Suppose That the Equation Represents the Number of Employees

question 62

Multiple Choice

Suppose that the equation represents the number of employees working t years after a company begins operations. After how many years will at least 300 employees be working? Round your answer to two decimal places. ​

• A)after 3.66 years
• B)after 4.30 years
• C)after 100.00 years
• D)after 0.22 year
• E)after 1.12 years

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Definitions:

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit received by an economy.

Allocative Efficiency

A state of the economy where resources are apportioned in a way that maximizes the overall benefit to society.

Productive Efficiency

A state where an economy or entity cannot produce more of one good without producing less of another, utilizing all resources in the best possible way without waste.

Economic Profit

The difference between total revenue and the total opportunity costs (both explicit and implicit) of all resources used.