Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In October 2 0 0 5 , a company employs 8 0 0 0 people and its total monthly wage bill is 2 4 million

In October 2005, a company employs 8000 people and its total monthly wage bill is 24 million dollars.
What is the average monthly wage of the company's employees?
Average monthly wage :
dollars.
The company is growing at a rate of 10 employees per month.
The total monthly wage bill is increasing at a rate of 250 thousand dollars per month.
At what rate is the average monthly wage changing at this time?
Give your answer correct to the nearest cent per month.
Rate of change:
dollars per month.
You should be careful over the units in this question.
image text in transcribed

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

Students also viewed these Finance questions

Question

Explain all drawbacks of application procedure.

Answered: 1 week ago