Purchase Solution

optimum level of guards

Not what you're looking for?

Ask Custom Question

Twenty first century electronics has discovered a theft problem at its warehouse and has decided to hire security guards. The firm wants to hire the optimal number of security guards. A table shows the number of security guards affects the number of radios stolen per week.
number of guards... number of radios stolen per week
0 50
1 30
2 20
3 14
4 8
5 6

a). if each guard is paid 200 each week, and the cost of a stolen radio is $25, how many security guards should the firm hire?
b).the cost of a stolen radio is $25 what is the most the firm would be willing to pay to hire the first security guard?
c). if each security guard is paid 200, a week and the cost of a stolen radio is $50, how many security guards should the firm hire?

Purchase this Solution

Solution Preview

twenty first century electronics has discovered a theft problem at its warehouse and has decided to hire security guards. The firm wants to hire the optimal number of security guards. A table shows the number of security guards affects the number of radios stolen per week.
number of guards... number of radios stolen per week
0 50
1 30
2 20
3 14
4 8
5 6

a). if each guard is paid 200 each week, and the cost of a stolen radio is $25, how many security guards should ...

Solution provided by:
Education
  • BE, Bangalore University, India
  • MS, University of Wisconsin-Madison
Recent Feedback
  • "Your explanation to the answers were very helpful."
  • "What does 1 and 0 means in the repair column?"
  • "Went through all of the formulas, excellent work! This really helped me!"
  • "try others as well please"
  • "Thank you, this helped a lot. I was not sure how to plug in those numbers to a formula. This was a great help. Now I have to figure out how to explain cost of capital is used in net present value analysis, and how cost of capital is used in net present value analysis. This stuff gets confusing."
Purchase this Solution


Free BrainMass Quizzes
Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.