Business, 21.06.2020 04:57 macybarham

A firm is trying to determine what wage it needs to offer in order to attract qualified applicants when hiring several new employees. The firm has collected the following data on the supply of labor and estimates the number of applications it would receive as well as the number of employees it would like to hire at each wage. Wage Number of Qualified Job Applicants Number of Employees Firm Would Hire $20,000 10 10 $25,000 12 9 $30,000 18 8 $35,000 21 7 $40,000 27 6 $45,000 30 5 $50,000 36 4 $55,000 45 3 $60,000 50 2 The firm wants to pay as little as possible and still get a minimum of two applicants for each person it actually hires. Which wage should the firm offer based on this data?

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