The manager of the customer service department at a bank can hire employees with a high school degree (HS) who earn $10,000 annually or employees with a bachelor's degree (B) who earn $20,000. The manager wants to maximize the number of customers served given a fixed payroll.
Given the above info, if the manager has a payroll of $80,000, how should the budget be allocated in order to maximize the number of customers served?
A. Hire four HS and two B.
B. Hire three HS and one B.
C. Hire two HS and three B.
D. Hire one HS and two B.
Answer: A
You might also like to view...
Refer to the scenario above. If Maria's opportunity cost of time increases to $80 per hour, the cost involved in taking the train is:
A) $320. B) $720. C) $800. D) $970.
In a competitive market when there is no deadweight loss
A) consumer surplus is minimized. B) producer surplus is minimized. C) consumer surplus plus producer surplus is maximized. D) consumer surplus plus producer surplus is minimized.
From 1965 to 2013, the average real wage for all workers has ________
A) fallen B) risen C) remained essentially unchanged D) risen in economic contractions and fallen in economic expansions
Who is included in the labor force by the Bureau of Labor Statistics?
a. Dia, an unpaid homemaker not looking for other work b. Kevin, a full-time student not looking for work c. Sarah, who does not have a job but is looking for work d. None of the above is correct.