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.

-Refer to the scenario above.If the professors then raise the price of papers to $1.50,how many hours of labor should the professors employ to maximize their profits?

Question

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.
 
-Refer to the scenario above.If the professors then raise the price of papers to $1.50,how many hours of labor should the professors employ to maximize their profits?

Quizplus · Accepted Answer

The Answer of 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.
 
-Refer to the scenario above.If the professors then raise the price of papers to $1.50,how many hours of labor should the professors employ to maximize their profits?

Scenario: Suppose That Professors Pay Their Teaching Assistants $10 an Hour