Question
A private hospital increases the pay rate of doctors by 10% and experiences only a 5% increase in the number of hours supplied by doctors
A private hospital increases the pay rate of doctors by 10% and experiences only a 5% increase in the number of hours supplied by doctors on average. A fast-food restaurant increases workers' wages by 5% and find the average worker is prepared to work 10% more hours. Seems odd! Explain this phenomenon?
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
