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Business, 12.03.2020 16:33 kyleeharr1370

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 $19 per unit. Given your current labor force, you know that if you hire another worker, that person will increase your output by 40.
Required:
Part 1) What is the marginal product of the worker you are considering hiring?
Part 2) What is the value of the marginal product of labor for this potential employee?

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