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 accompanying table. Each cup of coffee sells for $2. Number of workers Coffee (cups/hour) 00 125 245 3.60 470 575 678 The value of marginal product of the first worker is Select one: a. $2.00 b. $25.00 c. $1.50 d $37.50 per hour.
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 accompanying table. Each cup of coffee sells for $2. Number of workers Coffee (cups/hour) 00 125 245 3.60 470 575 678 The value of marginal product of the first worker is Select one: a. $2.00 b. $25.00 c. $1.50 d $37.50 per hour.
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 6P
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Transcribed Image Text: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 accompanying
table. Each cup of coffee sells for $2.
Number of workers Coffee (cups/hour)
00
125
245
3.60
470
575
678
The value of marginal product of the first worker is
Select one:
a. $2.00
b. $25.00
c. $1.50
d $37.50
per hour.
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