Monitoring of employees
A) is only effective while the employees are working, so that payment may be withheld for shirking.
B) can be effective after-the-fact if the shirking behavior can be detected later and the employee punished.
C) is only effective after-the-fact when it is possible to fire them for shirking.
D) None of the above.
D
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Suppose the table below describes the relationship between price and quantity demanded for a monopolist.QuantityPrice1$102$93$84$75$66$57$48$3 The marginal revenue of the fifth unit of output is:
A. $2. B. $30. C. -$2. D. $6.
Explain what will happen when the government imposes a minimum price that is below the market equilibrium price. Why is this true?
What will be an ideal response?
The problem of scarcity
a. arises only in poor countries. b. exists because the price of goods is too high. c. exists because of limited resources. d. will eventually be solved by better planning.
In which market structure do firms consider the actions of their rivals when setting prices and output?
a. monopoly b. oligopoly c. perfect competition d. both monopoly and perfect competition e. monopolistic competition