Strategic Hiring at a Parisian Language School
A Parisian language school is struggling to meet its hiring target. They are currently offering a wage that is proving uncompetitive, as a high percentage of qualified applicants are declining job offers, often mentioning better-paying opportunities elsewhere. The school's management has a limited budget and is considering two options to attract more tutors:
- Launch an expensive advertising campaign to significantly increase the number of job seekers who are aware of the vacancies.
- Use the same funds to increase the hourly wage offered to all new tutors.
Which of these two strategies should the school choose to solve its specific hiring problem? Justify your answer by explaining the relationship between the offered wage, an applicant's personal threshold for accepting a job, and the number of people who see the advertisement.
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