... Production Functions: An Application of Labor-Managed Firms and Codetermination,” Journal of Business, vol. 52 (19 79), pp. 469–06. CHAPTER 1 Microeconomics, A Way of Thinking about Business In ... application to business, given that firm sales are often affected by “macro variables” such as national income and the inflation rate. Throughout this Chapter 1. The Economic Way of Thinking 10 ... Bhagat, and Ronald C. Lease, “The Impact of Long-Range Managerial Compensation Plans on Shareholder Wealth,” Journal of Accounting and Economics, vol. 7 (19 85), pp. 11 5–29. 24Y. Amihud and...