The marginal factor cost of the last employee.

Question

1. Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00. Number of workers Coffee (cups/hour) 0 0 1 25 2 45 3 60 4 70 5 75 The marginal product of the third worker is ________ than the marginal product of the second worker, implying that ________. greater; diminishing returns are absent less; diminishing returns are present neither greater nor less; the third worker will be hired less; the third worker will never be hired Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Answer 1

Question

Chapter 11, Problem 12SQ

To determine

The marginal factor cost of the last employee.

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1. Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00. Number of workers Coffee (cups/hour) 0 0 1 25 2 45 3 60 4 70 5 75 The marginal product of the third worker is ________ than the marginal product of the second worker, implying that ________. greater; diminishing returns are absent less; diminishing returns are present neither greater nor less; the third worker will be hired less; the third worker will never be hired Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

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