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Suppose you were given a choice to select from a menu of items in your employee benefits package. The menu might include medical coverage ($1,500 deductable), life insurance equal to a year’s salary, vacation time based on length of employment with the company and retirement pay equal to 8 percent of income. Comment on how such a “flexible benefits package” would affect your preference between higher wages and more benefits. Use the theory of consumer behavior in your answer.

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Operation Management, Management Studies

Category:- Operation Management
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