Explain the behavior of the workers
Use the economic perspective to explain the behavior of the workers? Why do they work so diligently?
Expert
Workers at the fast-food restaurant are also engaging in rational behaviour attempting to achieve maximum fulfillment of their goals. Every worker is considered the opportunity cost of being in the restaurant rather than participating in the activity that is perceived as the next best alternative (say, cruising around in their cars).
The diligence observed is a function of their desire to maintain employment and the marginal benefit they receive from another day’s pay. Most among them quit their jobs after high school graduation because they receive more highly valued offers for the use of their time.
Definition of “Full Employment”?
Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should
What do you mean by Graphs?
Why producers not be able to find enough paying buyers for “public goods”?
Illustrate the advantage of corporate form of organization?
Explain of the law of demand?
What are the merits of speciality in the use of human and material resources?
Write down the different types of leverages which are computed for financial analysis?
Question: You are given the following data about two firms: FIRM A Quantity 0
Illustrate the 6 basic supply determinants of other than price?
18,76,764
1949793 Asked
3,689
Active Tutors
1424527
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!