Additional Case 16.1 Greenway Enterprises Is a Medium-Sized Manufacturer of Electrical Components. Recently

question 45

Multiple Choice

Additional Case 16.1
Greenway Enterprises is a medium-sized manufacturer of electrical components. Recently, the company has experienced a number of workplace accidents. OSHA standards have not been violated in any of the accidents. One of the injured employees, Floyd, files a workers' compensation claim, which is upheld by the state. Doctors indicate that Floyd requires 8 weeks of vocational training before he can return to work.
-Refer to Additional Case 16.1.As a result of numerous workplace accidents at Greenway,the firm's workers' compensation rates have increased significantly.Which of the following would be LEAST effective at keeping the firm's rates under control?

• A) Requesting a variance from OSHA
• B) Establishing an on-site health center
• C) Providing safety training for workers
• D) Auditing and investigating all claims

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Definitions:

Herfindahl-Hirschman Index

A concentration measure used to calculate the level of competition within an industry by summing the squares of the market shares of all firms within the industry.

Concentration Ratio

A measure used in economics to assess the degree of market concentration, often indicating the combined market share of the top firms in an industry.

Herfindahl-Hirschman Index

A measure of market concentration to evaluate the level of competition within an industry.

Herfindahl-Hirschman Index

A measure used to determine the level of competition within an industry, calculated by summing the squares of the market shares for each firm within the industry.