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?

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?

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter13: Factor Markets: With Emphasis On The Labor Market

Section13.1: Factor Market

Problem 2ST

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Question

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?

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