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Hiring Decision at a Custom Furniture Shop
The owner of a custom furniture shop is considering hiring a fourth woodworker. The shop's current daily production schedule is shown below. Each piece of furniture sells for $500, and each woodworker is paid a daily wage of $300.
| Number of Woodworkers | Total Pieces of Furniture Produced Daily |
|---|---|
| 0 | 0 |
| 1 | 3 |
| 2 | 7 |
| 3 | 10 |
| 4 | 12 |
Analyze the production data and advise the owner on whether hiring the fourth woodworker is a financially sound decision. Justify your recommendation by explaining how the additional output and revenue generated by the fourth worker compare to the cost of hiring them.
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Hiring Decision at a Custom Furniture Shop
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