Economics Homework Help

I’m working on a economics question and need an explanation and answer to help me learn.

• Suppose that you have a target of $1,000,000 in sales for your department this fiscal year, and you know that you can either hire cheap high-school graduates, or more expensive college graduates. You won’t be able to hire a college graduate for less than $60,000 per year, while you can find high-school graduates for $30,000. Suppose that you expect each high-school graduate to realize $50,000 in sales. What is the minimum amount of sales for college graduates that justifies hiring them?

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