The output of workers at a factory depends on the number of supervisors hired (see the following
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The output of workers at a factory depends on the number of supervisors hired (see the following table). The factory sells its output for $0.50 each, it hires 50 production workers at a wage of $100 per day, and it needs to decide how many supervisors to hire. The daily wage of supervisors is $500, but output rises as more supervisors are hired, as shown in the table. How many supervisors should it hire?
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Modern Labor Economics Theory And Public Policy
ISBN: 9780132540643
11th Edition
Authors: Ronald Ehrenberg, Robert Smith
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