Question

Charlie likes teaching but hates grading exxams, so he decides to hire a starving graduate student to grade his midterrrms. Charlie determines that, were he to offer $6 per exxam graded over the weekend after the midterrm, the graduate student would work hard enough to grade 60 exxams. And the starving graduate student is so desperate for the job that he would pay Charlie $100 to hire him (at $6 per exxam) rather than someone else. Unfortunately, Charlie remembers hearing about a professor at another school who was fired and went to jail for taking such a "bribe". So instead he hires the grad student with the understanding that he is expected to grade at least 50 exxams over the weekend; if he does this he will be paid A. If he grades more than 50 exxams, he will get a bonus of $6 for each exxam beyond 50. What is the lowest value of A that Charlie can offer and still expect the graduate student to accept his offer?

Answer 1

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