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Scenario: Suppose that professors pay their teaching assistants $10 an hour to grade papers for ...

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Scenario: Suppose that professors pay their teaching assistants $10 an hour to grade papers for ...

Scenario: Suppose that professors pay their teaching assistants $10 an hour to grade papers for their classes, and then the professors sell the graded papers back to the students in their classes for $.75 a paper. The following table shows the number of papers graded in a given number of hours.

Hours of Labor	Number of Papers Graded
1	40
2	75
3	105
4	130
5	142
6	149
7	154

Refer to the scenario above. How many hours of labor should the professors employ to maximize their profits?

▸ 2

▸ 3

▸ 4

▸ 5

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 45 times

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anitasag

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denausor Author

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Just got PERFECT on my quiz

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You make an excellent tutor!

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