Marie is a manager at an electronics store, and she has to decide how many workers to hire. If she hires one worker, her revenue is $400 per day. If she hires another worker, she can make another $350 per day. The marginal benefit of hiring another worker decreases by $50 with each additional hire. Assuming that workers are paid $20 per hour and work eight hours, how many employees should Marie hire, and what will be the total revenue of her store? She will hire four workers and the revenue of the store will be $1,300. She will hire five workers and the revenue of the store will be $1,500. She will hire six workers and the revenue of the store will be $1,650. She will hire seven workers and the revenue of the store will be $1,750.

Marie is a manager at an electronics store, and she has to decide how many workers to hire. If she hires one worker, her revenue is $400 per day. If she hires another worker, she can make another $350 per day. The marginal benefit of hiring another worker decreases by $50 with each additional hire. Assuming that workers are paid $20 per hour and work eight hours, how many employees should Marie hire, and what will be the total revenue of her store? She will hire four workers and the revenue of the store will be $1,300. She will hire five workers and the revenue of the store will be $1,500. She will hire six workers and the revenue of the store will be $1,650. She will hire seven workers and the revenue of the store will be $1,750.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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