1. Assume that the 4.1 million fast-food workers joined a union, but a large fraction of them preferred maximizing wages for a limited number of members while the remainder wished to maximize member income. Why would these groups prefer different wages?
2. If workers in the fast-food industry were to vote to unionize on a franchise-by-franchise basis, how could jurisdictional disputes arise?
J&J Enterprises sells paper cups to fast-food franchises. On January 1, 2011, J&J had 5,000 cups on hand, for which it had paid $0.10 per cup. During 2011, J&J made the following purchases and sales: During 2011, J&J sold 240,000 cups at $0.35 per cup (80,000 cups were sold on April 2 and 160,000...
1. a. Should the socially responsible company pay low-wage, fast-food workers more than the market requires? Explain. b. Is the free market the best measure of a “fair” wage for all? Explain. 2. Do you find anything morally amiss in an American economy that pays so poorly for hard-working, but...
Suppose that fast-food chains start using healthier ingredients, increasing the demand for fast...... ... the skills required of a sales clerk at a retail store are similar to those required of workers at a fast-food restaurant. If workers are completely indifferent between fast-food jobs and...
The Cobler Company uses a periodic inventory system and presents the following partial list of account balances taken from its December 31, 2007 adjusted trial balance: Operating expenses ................$ 35,800 Dividend revenue ................ 1,000 Retained earnings, January 1, 2007 ............
I created a scatterplot of CEO salaries and corporate revenue for 10 companies and found a negative correlation, but when I left out a data point for a company whose CEO took no salary, there was no correlation for the remaining data.
The average stock price for companies making up the S&P 500 is $30, and the standard deviation is $8.20 (BusinessWeek, Special Annual Issue, Spring 2003). Assume the stock prices are normally distributed. a. What is the probability a company will have a stock price of at least $40? b. What is the...
There are four stages of the consumer decision-making process: problem recognition, information search, decision-making, and post-purchase evaluation. Please explain these four parts in about 600 - 700 words.
A proposed new investment has projected sales of $635,000. Variable costs are 44 percent of sales, and fixed costs are $193,000; depreciation is $54,000. Prepare a pro forma income statement assuming a tax rate of 35 percent. What is the projected net income?
1. What benefits might union membership have offered to Junker? 2. Given that the SEIU had been receiving more than $3 million per year from Michigan home care workers, why do you think the SEIU now is trying to organize more than 200,000 home care workers in California?
Why does marginal factor cost increase as a monopsonistic firm utilizes more labor but remain unchanged as a perfectly competitive firm employs additional labor?
Suppose that you are thinking of buying a resale home in a large tract. The owner is asking $205,500. Your realtor obtains the sale prices of comparable homes in the area that have sold recently. The mean of the prices is $220,258 and the standard deviation is $5,237. Does it appear that the home...