A Manager in Charge of New Product Development Can Hire

question 82

Multiple Choice

A manager in charge of new product development can hire engineers and market researchers.The annual salary of an engineer is $30,000 and that of a market researcher is $20,000.The marginal contribution of engineers and market researchers are Given the above information,if the manager has an annual budget of $120,000,how should this budget be allocated in order to maximize the number of new products developed?

• A)Hire two engineers and one market researcher.
• B)Hire two engineers and three market researchers.
• C)Hire three engineers and two market researchers.
• D)Hire three engineers and four market researchers.

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Definitions:

Median Voter

A theoretical concept representing the individual whose preferences are in the middle of the political spectrum, often seen as pivotal in elections.

Median Voter

A theory which suggests that the outcome of a majority vote is most likely to represent the preferences of the voter who is in the middle of the political spectrum.

Road Repair

The process of fixing and maintaining roads to ensure they are safe and efficient for transportation.

Condorcet Paradox

A scenario in social choice theory where collective preferences can be cyclical, even if the preferences of individual voters are not, leading to the absence of a clear majority opinion.