What is the marginal physical product of hiring five workers, Microeconomics

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What is the marginal physical product of hiring five workers

Suppose that a firm's only variable input is labor. The firm increases the number of employees from four to five, thereby causing weekly output to rise by two units and total costs to increase from $3000 per week to $ 3300 per week.

a. What is the marginal physical product of hiring five workers instead of four?

b. What is the weekly wage rate earned by the fifth worker?

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Microeconomics: What is the marginal physical product of hiring five workers

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Microeconomics: What is the marginal physical product of hiring five workers

Reference No:- TGS065660

Have a Question? (oR Write a Review)

Recent Questions Asked Microeconomics

Q : Would domestic consumers-producers benefit from tariff

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Q : Program in the forms of greater productivity

Q : What would make someone a good candidate for the accountant

Q : What is the marginal physical product of hiring five workers

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Ask an Expert for Answer!!

Microeconomics: What is the marginal physical product of hiring five workers

Reference No:- TGS065660

Recent Questions Asked Microeconomics

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