15. A firm is a in a position to pay a worker less than he/she is worth if a. It
ID: 1124230 • Letter: 1
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15. A firm is a in a position to pay a worker less than he/she is worth if a. It has the ability to pay a wage less than a worker's marginal revenue product b. It has the ability to pay a wage greater than a worker's marginal revenue product. c There are many buyers for the worker's services. d. All of the above e. None of the above 16. If a firm pays a worker less than he/she is worth which of the following is likely to happen? a. the firm will have experience increasing returns to scale b. the firm will likely experience significant retention problems c. the firm will likely experience problems in buying d. all of the above. e. none of the above. other resources. 17. Which of the following is not a condition for teams to succeed? a. must be synergistic potential b. must be able to prevent free-riding at low cost c. must be able to inform all team members equally d. must have a lot of diversity among the team members. e. all of the above. 18. Influence costs are just another term for: a special interest influence by the company b. lobbying costs by employees to get favors from their bosses. c. erecting barriers to entry in a monopoly market d. none of the above. 19. The Informative Principle suggests that it is important to include: a. all performance indicators that provide all information about an employee's effort. b. various aspects of a worker's background in determining whether they should be hired. c. at least five difference measures of performance evaluation for a given period. d. all information that would inform an employee in successfully doing hisher job. 20. Most employees prefer to be paid a. with nothing but cash. b. with a mix of cash and fringe benefits. c. every week as opposed to every month. d. on the basis of work effort as opposed to the value of what they produce. e. all of the above.Explanation / Answer
Answer 15 - A) It has ability to pay the worker less than his marginal revenue product.
Marginal revenue product of a labour is what additional production happens when that worker is added. It is his worth, so paying him less than his worth is paying less than his marginal revenue product.
Answer 16 - B) The firm will experience retention problems.
If a worker is paid less than his worth, he is more likely to look for other jobs. In that case the firm will experience retention problems.
Answer 17 - D) Must have a lot of diversity in team members.
Diversity is an advantageous factor for a team, it may help in bringing out different viewpoints and innovative solutions, but a lot of it is not a necessity. Teams having less diversity can also be successful
Answer 18 - B) lobbying costs by their employess to get benefits from thier bosses.
Influence cost is the time and effort spent by employees to influence thier bosses so that they can take decions in thier favour or the department they work for.
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