A restaurant hires cooks and walters. Cooks earn $10 an hour; waiters eam $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and walters: Total number of meals served Number of employees Cooks Waiters 1 200 120 2 380 230 3 540 310 660 360 740 390 Given the above information, at the optimal choice, the last dollar spent on hiring waiters yielded 00000 6 additional meals. 16 additional meals. 80 additional meals. 60 additional meals. none of the above

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter21: The Theory Of Consumer Choice
Section: Chapter Questions
Problem 9PA
Question
Don't use Ai
A restaurant hires cooks and walters. Cooks earn $10 an hour; waiters eam $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks
and walters:
Total number of meals served
Number of employees
Cooks
Waiters
1
200
120
2
380
230
3
540
310
660
360
740
390
Given the above information, at the optimal choice, the last dollar spent on hiring waiters yielded
00000
6 additional meals.
16 additional meals.
80 additional meals.
60 additional meals.
none of the above
Transcribed Image Text:A restaurant hires cooks and walters. Cooks earn $10 an hour; waiters eam $5 an hour. The manager, who wants to maximize the number of meals served given a fixed payroll of $45 per hour, expects the following from cooks and walters: Total number of meals served Number of employees Cooks Waiters 1 200 120 2 380 230 3 540 310 660 360 740 390 Given the above information, at the optimal choice, the last dollar spent on hiring waiters yielded 00000 6 additional meals. 16 additional meals. 80 additional meals. 60 additional meals. none of the above
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Microeconomics
Principles of Microeconomics
Economics
ISBN:
9781305156050
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Microeconomics: Private and Public Choice (MindTa…
Microeconomics: Private and Public Choice (MindTa…
Economics
ISBN:
9781305506893
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning
Economics: Private and Public Choice (MindTap Cou…
Economics: Private and Public Choice (MindTap Cou…
Economics
ISBN:
9781305506725
Author:
James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:
Cengage Learning