The table below describes total benefits, total costs, marginal benefits, marginal costs, and net benefits for...
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The table below describes total benefits, total costs, marginal benefits, marginal costs, and net benefits for a firm, based on the number of workers it hires. All figures are in dollars. Number of Workers 0 1 2 3 4 5 Total Benefit 0 25 34 Total Cost 5 | | | Marginal Benefit XX 10 9 Marginal Cost Net Benefit XX 4 6 0 8 T 15 a. Please fill in the missing values. b. Based on the data in the table, what's the optimal number of workers? c. The table above doesn't reflect the costs involved in locating and hiring workers. Suppose the firm uses ZipRecruiter to find workers, and that ZipRecruiter has three different pricing policies, listed below. For each, please determine the optimal number of workers the firm hires, and the net benefit for the firm. Please show your work to receive full credit. (i) ZipRecruiter charges a flat rate of $10 for using its services, regardless of the # of workers you hire. (ii) ZipRecruiter charges a flat rate of $5 for using its services, plus $3 per worker hired. (iii) ZipRecruiter charges $10 if the firm hires 0-2 workers, and $15 if the firm hires 3 workers or more. The table below describes total benefits, total costs, marginal benefits, marginal costs, and net benefits for a firm, based on the number of workers it hires. All figures are in dollars. Number of Workers 0 1 2 3 4 5 Total Benefit 0 25 34 Total Cost 5 | | | Marginal Benefit XX 10 9 Marginal Cost Net Benefit XX 4 6 0 8 T 15 a. Please fill in the missing values. b. Based on the data in the table, what's the optimal number of workers? c. The table above doesn't reflect the costs involved in locating and hiring workers. Suppose the firm uses ZipRecruiter to find workers, and that ZipRecruiter has three different pricing policies, listed below. For each, please determine the optimal number of workers the firm hires, and the net benefit for the firm. Please show your work to receive full credit. (i) ZipRecruiter charges a flat rate of $10 for using its services, regardless of the # of workers you hire. (ii) ZipRecruiter charges a flat rate of $5 for using its services, plus $3 per worker hired. (iii) ZipRecruiter charges $10 if the firm hires 0-2 workers, and $15 if the firm hires 3 workers or more.
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The Legal and Regulatory Environment of Business
ISBN: 978-0078023859
17th edition
Authors: Marisa Pagnattaro, Daniel Cahoy, Manning Magid, Lee Reed, Pe
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