How should a manager with an annual budget of product

Reference no: EM13245013

The next 3 questions refer to the following:
A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $40,000 while a market researcher receives $20,000. The marginal contribution of engineers and market researchers are:

Engineers (E) Market Researchers (R)
Additional Additional
Worker New Products Worker New Products
1st 240 1st 80
2nd 200 2nd 70
3rd 160 3rd 60
4th 100 4th 50
5th 40 5th 40

1. How should a manager with an annual budget of $140,000 allocate this budget in order to maximize the number of new products developed?

2. If the manager has an annual budget of $140,000 and currently is hiring two engineers and three market researchers, then.

3. How should a manager with an annual budget of $240,000 allocate this budget in order to maximize the number of new products developed?

Reference no: EM13245013

Questions Cloud

Calculate the time of flight : A shot fired with a velocity 100 m/s on a direction making an angle 60 degree with vertical. Calculate the time of flight

Explain what is the rate of change in n2 : The reaction 2NO ? N2 + O2, has a rate constant of 3.6 x 10^-2 M^-1 s^-1. When [NO]= 2.8 x 10^-3 M, what is the rate of change in M.s^-1 for N2?

What percentage of the cars have four-cylinder engines : a. What is the average miles per gallon for city driving b. On average, how much higher is the miles per gallon for highway driving as compared to city driving c. What percentage of the cars have four-cylinder engines

Calculate the angles of the two prisms : The dispersive power of crown and flint glasses are 0.03 and 0.05 respectively. If diffrence in the refractive indices for blue, calculate the angles of the two prisms for a deviation of 2 degree without dispersion

How should a manager with an annual budget of product : A manager in charge of new product development can hire engineers and market researchers. The annual salary of an engineer is $40,000 while a market researcher receives $20,000. The marginal contribution of engineers and market researchers are

Find out the molar concentration of acetic acid : A student wanted to determine the molar concentration of acetic acid in a commercial vinegar sample. He used a volumetric pipet to deliver 3.00 mL of vinegar to an Erlenmeyer flask, added about 30 mL of water and 3 drops of phenolphthalein indicat..

Relationships between two or more variables : What has to be the case for us to discuss one variable "causing" another - In correlation and regression we are examining relationships between two or more variables

Find the value of accleration, retardation : A car starts from rest and accletation uniformly for 10s to a velocity of 8m/s. Find the value of accleration, retardation and total time taken

Derive each firms price functions for the locations : Assume 2 firms are in the market, producing at constant marginal cost=0. Consumers incur transportation costs which are quadratic in the distance traveled; specifically, a consumer located at position x incurs transportation costs of 2

User Account

All Pages