21 Jul WHAT IS NOW THE LABOR COST PER CAR SOLD?
s Show more Suppose that a car dealership wishes to see if efficiency wages will help improve its salespeoples productivity. Currently each salesperson sells an average of 2 cars per day while being paid $22 per hour for an 8-hour day. a. What is the current labor cost per car sold? $_________ per car. b. Suppose that when the dealer raises the price of labor to $32 per hour the average number of cars sold by a salesperson increases to 4 per day. What is now the labor cost per car sold? $_________per car. Instructions: Enter only positive numbers. By how much is it higher or lower than it was before? $ __________ lower per car. Has the efficiency of labor expenditures by the firm (cars sold per dollar of wages paid to salespeople) increased c. Suppose that if the wage is raised a second time to $43 per hour the number of cars sold rises to an average of 5 per day. What is now the labor cost per car sold? Instructions: Round your answer to 2 decimal places. $_________ per car. d. If the firms goal is to maximize the efficiency of its labor expenditures which of the three hourly salary rates should it use: $22 per hour $32 per hour or $43 per hour? $__________ per hour. e. By contrast which salary maximizes the productivity of the car dealers workers (cars sold per worker per day)? $______ per hour. Show less
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