Description
Select an organization with which you are familiar or an organization where you work.
Develop a 15- to 20-slide Microsoft® PowerPoint® presentation to be presented to the CEO's executive committee that addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor.
Explain the following in your presentation:
- How your organization's production function is related to its marginal product of labor.
- How your organization's marginal product of labor is related to the value of its marginal product.
- How your organization's marginal product is related to its demand for labor
- Examples of events that could shift the demand or supply of labor and why they do so.
- Reasons a worker's wages might be above the level that balances supply and demand.
- An analysis of the impact that government policies addressing income inequity and poverty could have on labor demand or supply.
Cite a minimum of three peer-reviewed sources not including your textbook.
Format your presentation consistent with APA guidelines.
Explanation & Answer
Attached.
The Economics of Labour Market -Outline
Thesis statement: The labour market is influenced by various factors which can cause it to shift
either forward or backwards.
I.
Concepts discussed
A. Production function of labour have a direct relationship with the marginal
product.
B. Increase in the labour inputs will lead to an increase in the output of labour to a
given point upon which any more increase in labour units will not increase the
output.
C. The value of the output also directs relates to the number of labour inputs
D. The government can influence the increase in the supply of labour or cause a
decrease in the supply of labour
THE ECONOMICS OF
LABOUR MARKET
WALMART RETAILERS
Relationship between production
function and marginal product of
labour at Walmart
➢ The production function of the retailer is a linear
relationship between the inputs and the outputs. The
inputs includes the capital and labour and other factors of
production.
➢ Marginal...
