Sam's Scarves has 2 knitting machines and employs 2 people. They produce 15 scarves a day. If the firm hires an addition
Posted: Thu May 26, 2022 7:36 am
Sam's Scarves has 2 knitting machines and employs 2 people. They produce 15 scarves a day. If the firm hires an additional person, the 3 workers can produce 19 scarves a day other things remaining the same. The market for scarves is perfectly competitive and the price of a scarf is $20. The value of marginal product of the third worker is ________.
$80
$380
$300
5 Scarves output
$80
$380
$300
5 Scarves output