Pam is a paper salesperson and also an excellent typist. She can type 120 words per minute, but can rack up $80 per hour in sales. Erin would like some typing work but can only type 30 words per minute. Economic efficiency suggests O Pam should always do the typing because she can type faster. O Erin should do the typing, provided she is willing to do so for less than $40 per hour. O Erin should do the typing, provided she is paid more than $40 per hour. O Erin should do the typing, provided she is willing to do so for less than $20 per hour.

Pam is a paper salesperson and also an excellent typist. She can type 120 words per minute, but can rack up $80 per hour in sales. Erin would like some typing work but can only type 30 words per minute. Economic efficiency suggests O Pam should always do the typing because she can type faster. O Erin should do the typing, provided she is willing to do so for less than $40 per hour. O Erin should do the typing, provided she is paid more than $40 per hour. O Erin should do the typing, provided she is willing to do so for less than $20 per hour.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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