A friend tells you that he thinks that the salesmen who work at Apple stores are paid

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A friend tells you that he thinks that the salesmen who work at Apple stores are paid very low wages, given their productivity. Dividing Apple’s revenues by the total number of employees shows that each employee contributed to an average of $473,000 in revenues in 2011. But, most of Apple’s sales staff are paid about $25,000 a year. What is the flaw, if any, in your friend’s reasoning?
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Microeconomics

ISBN: 978-1292079578

Global Edition 1st Edition

Authors: David Laibson, John List

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