Table 5.1 -Refer to Table 5.1.The Table Above Lists the Highest Prices

question 81

Multiple Choice

Table 5.1
-Refer to Table 5.1.The table above lists the highest prices three consumers, Tom, Dick and Harriet, are willing to pay for a short-sleeved polo shirt.If the price of one of the shirts is $28 dollars,

• A)Tom will buy two shirts, Dick will buy one shirt and Harriet will buy no shirts.
• B)Tom will receive $12 of consumer surplus from buying one shirt.
• C)Tom and Dick receive a total of $70 of consumer surplus from buying one shirt each.Harriet will buy no shirts.
• D)Harriet will receive $25 of consumer surplus since she will buy no shirts.

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Definitions:

Poor-Quality Applicants

Individuals who apply for positions but do not meet the necessary criteria, experience, or skill set required for the job.

Professional Search Firms

Companies specializing in recruiting high-level executives or specialized professionals for other organizations.

Placement Agencies

Agencies specialized in matching employers with potential employees, often focusing on specific industries or professional fields.

Cost Per Recruit

The total expense incurred by an organization to hire a new employee, including advertising, interviewing, testing, and training costs.