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Personnel Economics - Essay Example
Finance & Accounting
Pages 3 (753 words)
Name: Professor: Institution: Date: Personnel Economics The investor group is averse to risks and seeks profit maximization Assuming that the investor group is extremely averse to risks and seeks to maximize its annual profits if the head chef turns out to be of low quality, then there is the need to rank the two restaurant types and the two chef credentials associated with low quality chef in order to determine the most profitable…
The “Casual dining” restaurant is also profitable than the “Fine dining” restaurant as shown below. Having a non-graduate chef would help the group to maximize it profits as it would record a profit of $150,000 after catering all annual costs and the Chef’s salary. In ranking therefore, the “Casual dining” restaurant and the non-graduate chef will be first in the priority. The ranking and choice are based on the most profitable combination. ...