A company is planning to hire 50 new customer service representatives. It has analyzed the local labor market and determined the cumulative number of qualified candidates who would accept a job at various hourly wage rates, as shown in the table below.
| Hourly Wage | Cumulative Number of Willing Candidates |
|---|---|
| $18 | 25 |
| $20 | 40 |
| $22 | 55 |
| $24 | 75 |
To meet its hiring target of exactly 50 representatives in the most cost-effective manner, what is the minimum hourly wage the company must offer?
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A company is planning to hire 50 new customer service representatives. It has analyzed the local labor market and determined the cumulative number of qualified candidates who would accept a job at various hourly wage rates, as shown in the table below.
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