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A hospital needs to determine how many nurses to hire to cover a 24 hour period. The nurses must work 8 consecutive hours but can start work at the start of 6 different shifts. They are paid different wages depending on when they start their shifts. The number of nurses required per 4-hour time period and their wages are shown in the following table. Formulate the LP for this problem.
Law of Demand
An economic principle stating that as the price of a good or service increases, consumer demand for the good or service will decrease, and vice versa, holding all else constant.
Prices
The amount of money required to purchase goods or services, typically set by supply and demand dynamics in the market.
Scarce Resources
Refers to the limited availability of resources that are used for the production of goods and services.
Classified Ads
Short advertisements placed in a bulletin, newspaper, or online platform, categorized by the type of product, service, or job offered.
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