Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Elves are a mixed bunch some are inherently good (born on the North Pole) and some are evil (born on the South Pole). The arch

image text in transcribed
image text in transcribed
Elves are a mixed bunch some are inherently good (born on the North Pole) and some are evil (born on the South Pole). The arch enemy of Santa Claus, Anti Claus, lives in the South Pole and trains a community of evil elves to help them procure jobs in Santa's workshop and ruin Christmas. Anti Claus convinces them to carry out his evil work, which includes attempting to inltrate Santa's workshop. All elves have the reservation option of posing in a display at the local department store for $25,000 per season. a. Santa cannot tell the difference between North and South Pole elves when he is hiring them each year because Anti I{Hans teaches the evil elves to act just like North Pole elves in the interview process. To get ajob in Santa's workshop, elves must attend a training class for a certain number of weeks CW) prior to the Christmas season. Suppose it costs $10,000 per week for the North Pole elves to attend the class, while the burden of attending class for the South Pole elves is twice as high owing to the stress and added expense of living a double life. The North Pole elves can make toys valued at $75,000 per season, while the South Pole elves destroy all of the toys they produce. What is the range of weeks of training Santa can require so that the only elves working in his shop are good elves (and thus he would pay them $T5,{}00)? b. [full we observed is that all South Pole elves did not get training and did not work for Santa while all of the North Pole elves were trained and worked for Santa, is this consistent with a human capital story as well? Describe one such human capital story that could produce this outcome

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Law Today The Essentials

Authors: Roger LeRoy Miller

12th Edition

035703791X, 9780357037911

More Books

Students also viewed these Economics questions

Question

Context, i.e. the context of the information presented and received

Answered: 1 week ago