Scenario 17.2
Consider the information below:
For Group K the cost of attaining an educational level y is
C_K(y) = $2,000y
and for Group M the cost of attaining that level is
C_M(y) = $4,000y.
Employees will be offered $30,000 if they have where y* is an education threshold determined by the employer. They will be offered $90,000 if they have
-Refer to Scenario 17.2. An employer who only wants to hire those people who find learning less costly can do so by choosing y^* to be anywhere between:

Question

Scenario 17.2
Consider the information below:
For Group K the cost of attaining an educational level y is
C_K(y) = $2,000y
and for Group M the cost of attaining that level is
C_M(y) = $4,000y.
Employees will be offered $30,000 if they have

Scenario 17.2 Consider the information below: For Group K the cost of attaining an educational level y is C<sub>K</sub>(y) = $2,000y and for Group M the cost of attaining that level is C<sub>M</sub>(y) = $4,000y. Employees will be offered $30,000 if they have where y* is an education threshold determined by the employer. They will be offered $90,000 if they have -Refer to Scenario 17.2. An employer who only wants to hire those people who find learning less costly can do so by choosing y<sup>*</sup> to be anywhere between: A) 15 and 45. B) 15 and 30. C) 13 1/3 and 30. D) 8 and 20. E) none of the above

where y* is an education threshold determined by the employer. They will be offered $90,000 if they have

-Refer to Scenario 17.2. An employer who only wants to hire those people who find learning less costly can do so by choosing y^* to be anywhere between:

Quizplus · Accepted Answer

To hire those who find learning less costly, the employer must choose the group with the lower cost for attaining the education threshold y*. From the given information, we know that for Group K the cost is $2,000y and for Group M it is $4,000y. Therefore, we want to find the value of y* such that:
$2,000y* < $4,000y*
Dividing by y*, we get:
$2,000 < $4,000
So, the employer should choose Group K. 
Now, we need to find the range of y* for Group K. From the given information, we know that employees will be offered $30,000 if they have 11eab6a8_395d_05ca_9bd3_d57cc917349b_TB3095_11_TB3095_11_TB3095_11_TB3095_11_TB3095_11_TB3095_11 where y* is an education threshold determined by the employer. This means that:
$2,000y* = $30,000
Solving for y*, we get:
y* = 15
Similarly, employees will be offered $90,000 if they have 11eab6a8_395d_2cdb_9bd3_df8f7f6dd977_TB3095_11_TB3095_11_TB3095_11_TB3095_11_TB3095_11_TB3095_11
This means that:
$2,000y* = $90,000
Solving for y*, we get:
y* = 45
Therefore, the employer can choose y* to be anywhere between 15 and 45. However, we want to hire those who find learning less costly, so the best choice is the lower end of the range, which is 15.
Thus, the answer is B.

Scenario 17.2 Consider the Information Below