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Homework answers / question archive / Thompson Garage Doors is a company that installs automatic garage door openers
Thompson Garage Doors is a company that installs automatic garage door openers. It charges an average price of $500 per installation. Variable costs excluding wages for workers amount to $200 per installation. In addition, you are given the following information about the productivity of the workers: S Number of Installations per Marginal Net Marginal Revenue Workers Week Product Product 5 N 13 W 18 22 25 27 7 28 a) Complete the table. b) If each worker receives $1,400 per week, how many will the owner hire? Explain. c) How many workers would be hired at $1, 100 per week? Explain.
