Competitive employment is a tough thing to find, but the resource a employer favors in his or her competitive employer is the employee.
When an employee is favored over another component of their company, the employee winds up receiving more money and benefits. This can be very attractive to those looking for a pay raise or new benefits!
In return for this new benefit set, the new employee must put in more effort than someone who does not fit into their organization. This can be difficult for some people, as it requires moving away from what they are used to and accepting another job setting is not like their previous one.
Resource a was coined when there was not enough parking space for all of their cars at work, so they built a car dealership on their campus. They converted unused classroom and office spaces into car salesrooms where they hosted monthly auctions to raise money for supplies and vehicles.
The marginal revenue from resource a
When an employer pays a lower cost to obtain resource a than the market price, he or she can maximize the profits from that resource.
This occurs when the employer charges a higher cost for access to resource a than the market price. The cost to obtain resource a above market price is greater than the cost to acquire it at low prices, which encourages employees to conserve their money and buy what they need in advance.
By paying less for something than what it costs another entity to acquire, the employer can make more from one employee spending vs. buying stuff. This is referred to as value-added investing and is an effective way to maximize profits from one employee’s work.
The price of resource b
When resource b is more expensive than resource a, the competitive employer will try to maximize the profits from both resources by equating the two.
This happens in business all the time. For example, a company pays more to acquire a company than they pay to hire an employee. Or, they pay more for a piece of inventory than they pay for an employee!
In this case, the competitive employer is trying to maximize the profits from their inventory by comparing cost and demand. If people are willing to buy their inventory for less money, then it will be sold at that price!
If people are buying their inventory for more money, then it will be purchased for less.
The demand for resource a
As technology advances, jobs that were once highly specialized become more competitive. More people have access to technology than ever before which means more positions are going to be resource a
The average salary for resource a has not gone up in years and years! This is part of the reason why resource as are so valuable now. They know how to use software and advanced technologies to the fullest extent possible.
Since they can charge an extremely high fee and leave everyone behind, they are very valuable commodities.
The supply of resource b
In order for resource b to be valuable compared to resource a, both b and a require similar amount of effort to produce and maintain. This is called comparative advantage.
When one country produces resource a versus resource b, they are able to pay more for it in comparison to when another does. This can happen when one country has more production capacity or investment resources available.
In order for an employer to maximize the profits from their Resource b job applicants have to be willing to work hard. The way that employers use this attribute in order to evaluate applicants is by their history at previous jobs.
If you are looking for a new job, be sure that the employer’s of your new job will recognize your hard work and ability in order to compete with the current employer.
Equate the marginal cost and marginal revenue of resources a and b
To maximize the profits from resource a, the competitive employer of resource b must compare the cost of resources a and b and determine if either increase revenue or cost.
In order for the competitive employer of resource b to increase revenue, he or she must replace one expensive resource with another that is less expensive. For example, in order for the competitive employer of expense c to increase revenue, he or she must replace one expensive resource d with another that is less expensive e.
It is the duty of each individual to calculate their costs and find a way to lower them due to personal responsibility. As seen earlier, being aware of what areas of your company are costly can help individuals choose wisely when increasing their productivity or efficiency.
Determine the price and quantity of resources a and b8) Apply this model to real-world examples9) Understand the limitations of this model10) Learn how to apply this model with math
In the resource a8) model, companies use more energy than they need. However, these companies purchase expensive energy because it is the only source they can compare to when searching for a new job. This is not true for all jobs, but it is for employment-related jobs.
Many employment-related jobs require special equipment, tools, or supplies which are hard to find or afford without employment.