The components of a well-run incentive compensation scheme include all of the following EXCEPT
a. performing random acts of kindness to employees
b. avoiding rewards for outcomes that are not included in the performance measures
c. rewarding workers who for meet performance measures
d. identifying the relevant measures on which to evaluate employees
a
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Entry of new firms into a perfectly competitive market raises the product's price
Indicate whether the statement is true or false
The definition of cross elasticity of demand for two products X and Y is
a. percentage change in quantity of X demanded/percentage change in quantity of Y demanded. b. percentage change in price of Y/percentage change in quantity of X demanded. c. percentage change in price of Y/percentage change in price of X. d. percentage change in quantity of X demanded/percentage change in price of Y.
The key element in preserving a monopoly is keeping rivals out of the market
a. True b. False Indicate whether the statement is true or false
Taxable Income Taxes $0 - $23,000 17% of taxable income $23,001 - $42,000 $3,900 + 20% of everything over $23,000 $42,001 - $100,000 $7,710 + 30% of everything over $42,000 Greater than $100,000 $25,110 + 33% of everything over $100,000 Refer to Exhibit 11-4. If a person’s taxable income is $30,000, how much does he pay in taxes?
a. $6,000 b. $1,400 c. $5,300 d. $4,85011-9