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.