Suppose that a shoe manufacturer that employs 6 workers is able to increase the average product of labour from 5 pairs of shoes per hour to 6 pairs of shoes per hour by hiring a seventh worker. What will the seventh worker's hourly marginal product be?
Suppose that a shoe manufacturer that employs 6 workers is able to increase the average product of labour from 5 pairs of shoes per hour to 6 pairs of shoes per hour by hiring a seventh worker. What will the seventh worker's hourly marginal product be?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter26: Factor Markets: With Emphasis On The Labor Market
Section: Chapter Questions
Problem 5WNG
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Suppose that a shoe manufacturer that employs 6 workers is able to increase the average product of labour from 5 pairs of shoes per hour to 6 pairs of shoes per hour by hiring a seventh worker. What will the seventh worker's hourly marginal product be?
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