How your organization’s production function is related to its marginal product of labor.
Select an organization with which you are familiar or an organization where you work.
Develop a 850 word essay 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 essay:
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.
Solution previewOrganizations use different criteria in determining the number of workers that they can require running their daily production operations. Following the previous experience, I have gathered by working with various organizations. Currently, many firms globally are putting more emphasis on the amount…………………………….