need to know how these salaries are set in a business who is a monopsony and why they are set this Show more I need to know how these salaries are set in a business who is a monopsony and why they are set this way.

I need to know how these salaries are set in a business who is a monopsony and why they are set this Show more I need to know how these salaries are set in a business who is a monopsony and why they are set this way. My proffessor responded with this Yes the monopsony model is correct but it also specifies where the salary should start. Use of percentages and averages is really not needed. Just a thorough explanation of how salaries are set is needed. Can anyone help with this The HIGH: For Employees A & B; If they were to have the skills and experience that are required by our company for a special skill set job we should offer them the following salaries: Employee A: MRP $125000 Minimum salary range: $125000 *.80 = $100000 Maximum salary range: $125000 * 1.00 = $125000 Average salary range: ($100000 + $125000)/2= $112500 We should pay employee A the average of the high and low salary range; $112500. Employee B: MRP $135000 Minimum salary range: $135000 * .80 = $108000 Maximum salary range: $135000 * 1.00 = $135000 Average salary range: ($108000+$135000)/2 = $121500 We should pay employee B the average of the high and low salary range; $121500. The LOW: For Employees A & B; If they are NOT required to have a special skill set or experience for a job title or do NOT have the skills or experience we should offer them the following salaries: Employee A: MRP $125000 Minimum salary range: $125000 *.40 = $50000 Maximum salary range: $125000*.50 = $62500 Average Salary range = ($50000 + $62500) /2 = $56250 We should pay Employee A the average of the high and low salary range; $56250 Employee B: MRP $135000 Minimum of salary range= $135000 * .40 = $54000 Maximum of salary range = $135000 * .50 = $67500 Average of salary range = ($54000+ $67500) / 2 = $60750 We should pay Employee B the average of the high and low salary range; $60750 Show less


 

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