7. Multiple resources and how much to use them Suppose that you own a restaurant and you have to choose how many experienced and novice chefs to hire for the kitchen. An experienced chef can cook 22 meals per hour, while a novice chef can cook only 11 meals per hour. Experienced chefs cost $32 per hour. True or False: If unskilled chefs cost $13 per hour, you are indifferent between hiring skilled and unskilled chefs. True False

This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.