A real estate agency is considering whether to hire additional agents or to lay off workers....

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A real estate agency is considering whether to hire additional agents or to lay off workers. It currently has 4 agents and sells 52 homes. Its internal research suggests the following home sales would occur with different numbers of agents: Agents 0 1 2 3 4 5 6 Home Sales 0 16 30 42 52 60 66 Each home sale brings in $10,000 in revenue for the agency and the salary of an agent is $65,000. (1) Should the agency hire more agents or lay off agents it already has? Explain. (2) During a recession, the price of houses drops and the revenue the agency brings in on each sale decreases as well. Would the agency want to hire more agents during these periods or fewer? Explain. A real estate agency is considering whether to hire additional agents or to lay off workers. It currently has 4 agents and sells 52 homes. Its internal research suggests the following home sales would occur with different numbers of agents: Agents 0 1 2 3 4 5 6 Home Sales 0 16 30 42 52 60 66 Each home sale brings in $10,000 in revenue for the agency and the salary of an agent is $65,000. (1) Should the agency hire more agents or lay off agents it already has? Explain. (2) During a recession, the price of houses drops and the revenue the agency brings in on each sale decreases as well. Would the agency want to hire more agents during these periods or fewer? Explain.

Answer rating: 100% (QA)

1 To determine whether the agency should hire more agents or lay off existing agents we need to analyze the relationship between the number of agents ... View the full answer