Number of workers 0 1 2 3 5 6 Units sold (per day) 8 13 17 20 22 23 23 Assume that workers are paid $20 per hour and work eight hours. (i) How many employees should Marie hire? (ii) What will be the total revenue of her store per day?

Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter4: Extent (how Much) Decisions
Section: Chapter Questions
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Marie Johnston is a manager at a cell phone store and is making hiring decisions. The number of cell phones her store sells per day depends on the number of workers she hires, as shown in the accompanying table. She sells each cell phone for $300

cell phones her store sells per day depends on the number of workers she hires, as shown in the accompanying
table. She sells each cell phone for $300.
Number of Units sold (per
workers
day)
0
8
1
13
2
17
3
20
4
22
5
23
6
23
Assume that workers are paid $20 per hour and work eight hours.
(i) How many employees should Marie hire?
(ii) What will be the total revenue of her store per day?
Transcribed Image Text:cell phones her store sells per day depends on the number of workers she hires, as shown in the accompanying table. She sells each cell phone for $300. Number of Units sold (per workers day) 0 8 1 13 2 17 3 20 4 22 5 23 6 23 Assume that workers are paid $20 per hour and work eight hours. (i) How many employees should Marie hire? (ii) What will be the total revenue of her store per day?
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