While on His Lunch Break, Jamal, Who Works in IT

question 61

Multiple Choice

While on his lunch break, Jamal, who works in IT at a kitchen appliance manufacturer, was talking with his friend Carolina from accounting about how long his daily commute was and how much worse traffic had gotten in the past couple of years. Carolina confessed she had the same experience and was frustrated at how long it took her to get to and from work. Although they were from different departments, they both had the same 8:00 A.M. start time, as did a majority of the company's staff. Jamal imagined how nice it would be to come to work at 7:00 A.M. and leave at 4:00 P.M., which would allow him to miss both the morning and evening peak rush hours. Carolina thought it was a great idea, as did other employees sitting nearby who were listening to their discussion. In order to have a good shot at persuading the management team to institute earlier start times, it makes the most sense for Jamal and his co-workers to

• A)stage a "slow-in" by arriving late to work on purpose every day for a week and blame it on the traffic.
• B)organize with other like-minded employees and present their ideas to management as a group.
• C)approach each of their managers independently for approval to arrive at and leave work early.
• D)go on strike and refuse to return to work until their demands for alternate hours are met.

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Definitions:

Consumer Surplus

The discrepancy in the total spend consumers are willing to shoulder for a product or service as opposed to what they actually disburse.

Market Price

The present value at which a service or asset is available for purchase or sale in a market.

Consumer Surplus

The gap in the total financial commitment consumers are ready to make for a product or service versus their actual commitment.

Hockey Tickets

Specific goods in the form of admission to watch a hockey game, demonstrating concepts of supply, demand, and pricing in a market.