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Apple Inc. Introduction • Production function related to marginal labor product • Marginal product of labor related to value of marginal product • Marginal product related to demand for labor • Examples of events that can shift demand/supply and why they can • Why a workers wages might be above level that balances supply and demand • Analyze impact that government policies on income inequity and poverty could have on labor demand or supply 2 Marginal revenue product of a worker = the marginal product of labor and the marginal revenue Marginal revenue productivity theory = Firm that is maximizing profits will hire workers to point equal to wages. The change in hiring one more worker will not be limited to attributable to additional worker. As the number of workers increases, the marginal product of labor declines. As more and more workers are hired, each additional worker contributes less to production than the prior one. The production function becomes flatter as the number of workers rises. 3 How Appel Inc. production function is related to its marginal product of labor • Revenue per Square Foot (productivity of Apple Stores) • Product Units per Time (productivity of Apple suppliers and supply chain) • Milestone per Time (productivity of Apple employees in product development) 4 How apple’s production function is related to marginal product of labor 5 Apple Inc. marginal product of labor is related to the value of its marginal product  The value of the marginal product is the marginal product of the input multiplied by the market price of the output.  VMPL = MPL  P 6 Apple Inc. marginal product of labor is related to the value of its marginal product 7 Apples Inc. Organization's marginal product is related to its demand for labor ❖ Apple is authentic salary of hour wages with out commission plays a simple proposal. W=P*MPL ii Wage rate Iii MPL = Marginal product of labor i. ❖ The change in total output that results from employment of one additional unit of input. 8 Apples Inc. Organization's marginal product is related to its demand for labor 9 Demand and Supply of Labor Reasons for shifts 10 • Training and Education of employees • Employment options presented to potential hires • Wage rates • Productivity • Product demand 11 Reasons a worker’s wages might be above the level that balances supply and demand • Minimum wage laws • Market power of labor unions • The theory of efficiency wages 12 Reasons a worker’s wages might be above the level that balances supply and demand 13 Government Policies Inequity Progressive Income Tax Public Assistance Programs Government Policies 14 Government Policies Poverty Minimum Wage Laws Negative Income Tax Welfare 15 16 Conclusion: References Allen, J. T. (n.d.). Negative Income Tax. Retrieved November 03, 2016, from http://www.econlib.org/library/Enc1/NegativeIncomeTax.html Alden, L. (2007). Supply and demand in labor markets. Retrieved from http://www.econoclass.com/economicsoflabormarkets.html Boundless. “Marginal Product of Labor (Revenue).” Boundless Economics. Boundless, 26 May, 2016 Economics Online. (2016). The labour market. Retrieved from http://www.economicsonline.co.uk/Competitive_markets/The_labour_market.html Greece, B. (2008, July 1). Articles Central European Journal of Public Policy—Vol. 2 ... Retrieved November 3, 2016, from http://www.datalaundering.com/download/greve13.pdf Mallin, Michael & Finkle, Todd (2011). Apple Inc.: Product Portfolio Analysis. Journal of the International Academy for Case Studies. 17(7), 63. Retrieved from: Academic OneFile, Mankiw, G. N. (2015). Principles of Microeconomics (7th ed.). Retrieved from Stamford, CT: Cengage Learning. The University of Phoenix eBook Collection database. Nunes, G. (2016, April 21). Pros and Cons for the U.S. of Flat vs. Progressive Taxes. Retrieved November 03, 2016, from https://toughnickel.com/personal-finance/Flat-Tax- vs-Progressive-Tax-Pros-and-Cons-for-the-US Ori, J. (n.d.). What Are Public Assistance Programs? Retrieved November 03, 2016, from http://www.ehow.com/info_8161098_public-assistanceprograms.html The Efficiency Wage Theory. (2016). Retrieved from 17
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Explanation & Answer

Attached.

Apple Inc.

Introduction

• Production function related to marginal labor
product
• Marginal labor product related to marginal
product value.
• Marginal product related to labor demand.
• Events examples that shift supply/demand and
reasons why
• Reasons a worker’s wages might surpass the
demand and supply balances level
• Analyze the influence of government policies on
poverty and income inequality and their effects
on labor supply and demand

2

Marginal worker’s product revenue= the marginal labor product and the marginal revenue
The theory of Marginal revenue productivity = Firm that is maximizing profits will hire workers to point equal
to wages.
The change in hiring one more worker will not be limited to attributable to additional worker.

With the increase of the workers, the marginal labor product decr...


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