The town of Bookville has a massive public library system. Bookville's municipal government faces a tradeoff between retaining the current number of library workers and replacing some of its workers with computers. The four options available to the government are given in table below. Number of workers Number of computers Choice A 30 50 Choice B 20 100 Choice C 10 150 Choice D 5 300 Computers and software cost $5,000 each and must be replaced each year. In a non-unionized labor market, workers are paid $20,000 per year. In these circumstances, the optimal choice from a cost perspective for the city government is Question 4 options: Choice A Choice B Choice C Choice D
The town of Bookville has a massive public library system. Bookville's municipal government faces a tradeoff between retaining the current number of library workers and replacing some of its workers with computers. The four options available to the government are given in table below. Number of workers Number of computers Choice A 30 50 Choice B 20 100 Choice C 10 150 Choice D 5 300 Computers and software cost $5,000 each and must be replaced each year. In a non-unionized labor market, workers are paid $20,000 per year. In these circumstances, the optimal choice from a cost perspective for the city government is Question 4 options: Choice A Choice B Choice C Choice D
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The town of Bookville has a massive public library system. Bookville's municipal government faces a tradeoff between retaining the current number of library workers and replacing some of its workers with computers. The four options available to the government are given in table below.
|
Number of workers |
Number of computers |
Choice A |
30 |
50 |
Choice B |
20 |
100 |
Choice C |
10 |
150 |
Choice D |
5 |
300 |
Computers and software cost $5,000 each and must be replaced each year. In a non-unionized labor market, workers are paid $20,000 per year. In these circumstances, the optimal choice from a cost perspective for the city government is
Question 4 options:
Choice A |
|
Choice B |
|
Choice C |
|
Choice D |
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