Your enterprising uncle opens a sandwich shopthat employs 7 people. The employees are paid$12 per hour, and a sandwich sells for $6. If youruncle is maximizing his profit, what is the value ofthe marginal product of the last worker he hired?What is that worker’s marginal product?

Your enterprising uncle opens a sandwich shopthat employs 7 people. The employees are paid$12 per hour, and a sandwich sells for $6. If youruncle is maximizing his profit, what is the value ofthe marginal product of the last worker he hired?What is that worker’s marginal product?

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter10: Labor Markets And Income Distribution

Section: Chapter Questions

Problem 3SQP

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Question

Your enterprising uncle opens a sandwich shop
that employs 7 people. The employees are paid
$12 per hour, and a sandwich sells for $6. If your
uncle is maximizing his profit, what is the value of
the marginal product of the last worker he hired?
What is that worker’s marginal product?

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