You have decided to open a coffee shop in San Bernardino. While there is a lot of competition (i.e. it's a perfectly competitive market) for coffee in the area, you have developed coffee making technology to sell coffees at $3 per coffee. If the minimum wage for coffee restaurant employees is $10 per hour, and you schedule employees for 8-hour shifts ($80 a day). How many employees should you hire? Employee 2 3 t UT O 2 32 Total output (coffees per day) 40 74 102 124 140 Marginal Product 40 34 28 22 16 Marginal Revenue Product $120 $102 $84 $66 $48 Marginall $80 $80 $80 $80 $80 (

You have decided to open a coffee shop in San Bernardino. While there is a lot of competition (i.e. it's a perfectly competitive market) for coffee in the area, you have developed coffee making technology to sell coffees at $3 per coffee. If the minimum wage for coffee restaurant employees is $10 per hour, and you schedule employees for 8-hour shifts ($80 a day). How many employees should you hire? Employee 2 3 t UT O 2 32 Total output (coffees per day) 40 74 102 124 140 Marginal Product 40 34 28 22 16 Marginal Revenue Product $120 $102 $84 $66 $48 Marginall $80 $80 $80 $80 $80 (

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 42 solve
2
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I just what to know how they found MC
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Aa5