on 11 of 15 > O Macmillan Learning The Core Principles of Economics - End of Chapter Problem Aliyah is preparing to expand her IT consulting company. The current market rate for IT professionals is $58,000 per year. Each employee she hires will also require a computer and equipment that costs $6,000 per employee annually. Hiring more employees means that Aliyah can provide consulting services to more clients each year. Each client Aliyah has will pay her $10,000 per year. The number of clients Aliyah can take on is dependent on the number of workers she hires and is depicted in the accompanying table. a. The first worker's marginal cost is $ c. The second worker's marginal cost is $ Use this information to calculate the marginal cost and the marginal benefit of hiring each worker. Number of workers 0 1 2 3 4 Clients per year 0 11 20 27 32 b. The first worker's marginal benefit is $ d. The second worker's marginal benefit is $

on 11 of 15 > O Macmillan Learning The Core Principles of Economics - End of Chapter Problem Aliyah is preparing to expand her IT consulting company. The current market rate for IT professionals is $58,000 per year. Each employee she hires will also require a computer and equipment that costs $6,000 per employee annually. Hiring more employees means that Aliyah can provide consulting services to more clients each year. Each client Aliyah has will pay her $10,000 per year. The number of clients Aliyah can take on is dependent on the number of workers she hires and is depicted in the accompanying table. a. The first worker's marginal cost is $ c. The second worker's marginal cost is $ Use this information to calculate the marginal cost and the marginal benefit of hiring each worker. Number of workers 0 1 2 3 4 Clients per year 0 11 20 27 32 b. The first worker's marginal benefit is $ d. The second worker's marginal benefit is $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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True/False Increase in total product always indicates that there are increasing returns to a factor.
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