Can unions increase productivity? Explain
What will be an ideal response?
Unions can increase productivity, but they can also decrease productivity. Featherbedding is a practice that reduces labor productivity. However, if unions create greater job satisfaction or reduce labor turnover, it is possible that productivity will be increased.
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Which of the following conditions distinguishes monopolistic competition from perfect competition?
a. number of sellers b. freedom of entry and exit c. perfect information d. homogeneity of the product
One thousand adults live in Milltown. Every day, they all leave work at 4:30 p.m., arrive home at exactly 5:00 p.m., and go to bed at 9:00 p.m. Three fundraisers, Alpha, Beta, and Charlie, have targeted Milltown's population. To get a donation, they must call Milltown's residents after they get home from work but before they go to bed. Because the charities raising the funds are identical, the first to call a willing donor will get the donation. Beta's manager has decided that the best time to call is 7:00 p.m. because it is exactly halfway between 5:00 p.m. and bedtime. Which of the following is true?
A. Alpha and Charlie will also make calls at 7:00 p.m. B. Beta is certain to generate the most donations. C. Alpha and Charlie will divide up the rest of the market, with one choosing to call at 6:00 p.m. and the other at 8:00 p.m. D. Beta's manager did not choose wisely.