Business, 09.12.2021 04:10 alexussaniyah
Your enterprising uncle opens a sandwich shop that employs seven people. These employees are paid $6 per hour and a sandwich sells for $3. Your uncle is maximizing profit at all times. What is the value of the marginal product of the last worker your uncle hired? What is the last worker’s actual marginal product?
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Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. in this case, the country that produces jeans will produce million pairs per week, and the country that produces corn will produce million bushels per week.
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