Molly owns a company that gives one-on-one skiing lessons. She is deciding how many ski instructors to hire. The price of a ski class is $100, and the equilibrium wage for a ski instructor is $300 per day. According to the table below and the Rational Rule for Employers, how many ski instructors should Molly hire? Total number of Number of ski instructors ski lessons 1 8 2 14 3 17 4 19 20
Molly owns a company that gives one-on-one skiing lessons. She is deciding how many ski instructors to hire. The price of a ski class is $100, and the equilibrium wage for a ski instructor is $300 per day. According to the table below and the Rational Rule for Employers, how many ski instructors should Molly hire? Total number of Number of ski instructors ski lessons 1 8 2 14 3 17 4 19 20
Chapter16: The Markets For Labor, Capital, And Land
Section: Chapter Questions
Problem 5P
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![Molly owns a company that gives one-on-one skiing lessons. She is deciding how
many ski instructors to hire. The price of a ski class is $100, and the equilibrium wage
for a ski instructor is $300 per day. According to the table below and the Rational
Rule for Employers, how many ski instructors should Molly hire?
Total
number of
Number
of ski
ski
lessons
instructors
1
8
2
14
3
17
4
19
20
A) 1
B) 2
C) 3
D) 4
E) 5](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F88a2fc98-e0a4-40b8-93ba-f16dd72c0f3b%2Fb99ea10c-05ad-4ff7-ac51-68095e0b6a6a%2Fk1j50uh_processed.png&w=3840&q=75)
Transcribed Image Text:Molly owns a company that gives one-on-one skiing lessons. She is deciding how
many ski instructors to hire. The price of a ski class is $100, and the equilibrium wage
for a ski instructor is $300 per day. According to the table below and the Rational
Rule for Employers, how many ski instructors should Molly hire?
Total
number of
Number
of ski
ski
lessons
instructors
1
8
2
14
3
17
4
19
20
A) 1
B) 2
C) 3
D) 4
E) 5
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