An electronics manufacturer is experiencing theft problems at its warehouse and has decided to hire security guards to reduce the thefts. The firm wants to minimize the net cost of warehouse thefts. If the cost of a stolen electronics part is $25, what is the MOST the firm would be willing to pay to hire the first security guard

$500

Explanation:

Had to complete the question first

No of security guard No of radio stolen/wk

0 50

200 30

400 20

600 14

800 8

1000 6

Explanation:

If the firm decides to hire the first security guard and a radio worth $25, MB = MC which gives us the sum of $500 which is the worth of hiring the first security guard. Hiring the guard is same as having no quarrel at all and paying for the stolen radios. This means the security guard would save 20 radios at $25 each.

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know