The owner of a Florida car wash is maximizing profit. The price of a wash is $4.00, a car wash worker's wage rate is $12 an hour, and the car wash employs five workers. What is the marginal product of the fifth car wash worker? If, when the price of a wash rises to $6.00, the car wash hires seven workers, what is the marginal product of the seventh worker? >> Answer to 2 decimal places. When the price of a wash is $4.00, the marginal product of the fifth car wash worker is When the price of a wash rises to $6.00, the marginal product of the seventh car wash worker is

The owner of a Florida car wash is maximizing profit. The price of a wash is $4.00, a car wash worker's wage rate is $12 an hour, and the car wash employs five workers. What is the marginal product of the fifth car wash worker? If, when the price of a wash rises to $6.00, the car wash hires seven workers, what is the marginal product of the seventh worker? >> Answer to 2 decimal places. When the price of a wash is $4.00, the marginal product of the fifth car wash worker is When the price of a wash rises to $6.00, the marginal product of the seventh car wash worker 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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