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Author Question: You have been hired by the No Hassle Collection Agency to provide economic advice. The owner of the ... (Read 168 times)

jc611

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on: Apr 19, 2019

You have been hired by the No Hassle Collection Agency to provide economic advice. The owner of the agency tells you that No Hassle's only variable input is the number of collection agents. The hourly wage for collection agents is $30.00. The marginal revenue product curve for collection agents reaches its maximum at five workers with a marginal revenue product of $34.00. What advice would you give this firm?


◦ Hire five collection so as to maximize profits.
◦ Shut down immediately, as the firm is not able to cover all of its variable costs.
◦ Decrease the wage rate paid to collection agents so that their marginal revenue product will decrease.
◦ Hire collection agents until the marginal revenue product is equal to the wage—which will occur when more than five agents are employed.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by jc611 on Apr 19, 2019

Gabe

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jc611

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Reply 2 on: Apr 19, 2019
Great answer, keep it coming :)

bblaney

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Reply 3 on: Yesterday
Wow, this really help

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