Business, 03.07.2020 22:01 kokilavani

Suppose you work as a manager in a firm. Your job is to hire the right number of people to maximize profit. Every worker you hire costs $150 per day, and each unit of output sells for $18 per unit. Given your current labor force, you know that if you hire another worker, that person will increase your output by 32. 1. What is the marginal product of the worker you are considering hiring?
2 What is the value of the marginal product of labor for this potential employee?
3. What is the marginal profnt or loss for hiring this employee? (Use a negative number if hiring this person results in a net loss
4. Should this additional worker be hired?

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Suppose you work as a manager in a firm. Your job is to hire the right number of people to maximize...

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