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
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
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