Your enterprising uncle opens a sandwich shop that employs 11 people. The employees are paid $15 per hour, and a sandwich sells for $3. If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is , and that worker's marginal product is sandwiches per hour.
Your enterprising uncle opens a sandwich shop that employs 11 people. The employees are paid $15 per hour, and a sandwich sells for $3. If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is , and that worker's marginal product is sandwiches per hour.
Chapter10: Labor Markets And Income Distribution
Section: Chapter Questions
Problem 3SQP
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Your enterprising uncle opens a sandwich shop that employs 11 people. The employees are paid $15 per hour, and a sandwich sells for $3.
If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is
, and that worker's marginal product is
sandwiches per hour.
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