The Tournament Pay Explanation Is Useful in an Attempt to Explain

question 52

Multiple Choice

The tournament pay explanation is useful in an attempt to explain why

• A) some corporate executives earn amounts higher than their marginal revenue product.
• B) very few people actually earn the minimum wage.
• C) political entrepreneurs can generate campaign contributions from businesses outside of their districts.
• D) people with only a high school education earn less than those with college degrees.

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Definitions:

Individual Mannerisms

Individual mannerisms are the unique behaviors, gestures, and habits that characterize a person.

Organizational Transformation

A comprehensive and fundamental change in an organization’s operations, strategy, and culture aimed at achieving significant improvements.

Mastery of Abilities

The process of acquiring and perfecting skills or competencies to a high level of proficiency.

Challenge

The call to competition, contest, or battle.