A negative side of a revenue-sharing plan is that it:
A. can be difficult to manage from an accounting standpoint.
B. can be costly if revenues are low.
C. does not induce hard or better work.
D. gives no incentive for workers to minimize costs.
Answer: D
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An example of an ongoing expense for a toy company would be buying:
A. a delivery truck, and would be included in total cost. B. a new factory, and would be excluded from total cost. C. advertising for their products, and would be included in total cost. D. None of these is true.
Which of the following would be included in the calculation of the GDP for the year 2010?
a. Purchase of a 2004 model Volkswagen sedan in 2010 b. Swapping of baseball cards among two college students c. Car repairs done by a person d. Fresh lemonade sold at a local diner e. A lamp sold at a garage sale
Consider a firm with the following cost information: ATC = $15, AVC = $12, and MC = $14 . If we know that this firm has decided to produce Q = 20 by following the rule to maximize profits or minimize losses, then the price of the output is
a. $12 b. $14 c. $15 d. $20 e. indeterminate from the information given
Which of the following conditions is characteristic of a monopolistically competitive firm in long-run equilibrium?
a. P > MR and P = MC b. ATC = demand and MR = MC c. P < MC and demand = ATC d. P > ATC and demand > MR