10. (52 points) Wizard Ollivander can produce wands at the following rate: QK172. His house elves currently eam 2 galleons/hour and he pays 8 Galleons/hour for his machines and tools. A) There are 60 new students starting at Hogwarts this year and they all need new wands. What is Ollivander's optimal number of hours for elves and machines? B) As long as Ollivander only makes 60 wands, what's the minimum price Ollivander can charge pe wand and remain in business? Suppose the house elves unionize and their wage increases from 2 galleons/hour to 16 galleons/hour. How many fewer hours are house elves going to work if new wizards still only need 60 wands? D) Suppose after the house elf unionization, the goblins tell Ollivander they are willing to make wands for only 5 galleons/hour. If he hires goblins instead of house elves. Olivander's output becomes Q = (1/15/2 How much money would hiring goblins save Ollivander if Wizards still only need 60 wands? 10. (52 points) Wizard Ollivander can produce wands at the following rate: QK172. His house elves currently eam 2 galleons/hour and he pays 8 Galleons/hour for his machines and tools. A) There are 60 new students starting at Hogwarts this year and they all need new wands. What is Ollivander's optimal number of hours for elves and machines? B) As long as Ollivander only makes 60 wands, what's the minimum price Ollivander can charge pe wand and remain in business? Suppose the house elves unionize and their wage increases from 2 galleons/hour to 16 galleons/hour. How many fewer hours are house elves going to work if new wizards still only need 60 wands? D) Suppose after the house elf unionization, the goblins tell Ollivander they are willing to make wands for only 5 galleons/hour. If he hires goblins instead of house elves. Olivander's output becomes Q = (1/15/2 How much money would hiring goblins save Ollivander if Wizards still only need 60 wands