This topic contains a solution. Click here to go to the answer

Author Question: You have been hired by the No Hassle Collection Agency to provide economic advice. The owner of the ... (Read 118 times)

jc611

  • Hero Member
  • *****
  • Posts: 552

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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jc611 on Apr 19, 2019

Gabe

  • Sr. Member
  • ****
  • Posts: 321
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.
Answer Preview
Only 55% of students answer this correctly




jc611

  • Member
  • Posts: 552
Reply 2 on: Apr 19, 2019
Thanks for the timely response, appreciate it


6ana001

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

There are more bacteria in your mouth than there are people in the world.

For a complete list of videos, visit our video library