Recently, some college alumni started a moving service for students living on campus. They have 3 employees and are debating hiring one more. The hourly wage for an employee is $30 per hour. An average moving job takes 4 hours. The company currently does 3 moving jobs per week, but with one more employee, the company could manage 5 jobs per week. The company charges $100 for a moving job.
Instructions:
Round your answers to the nearest whole number.
a. The new employee's marginal product of labor is .
b. The value of that merginal product is .
c. The moving service should moving jobs - hire another worker.
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Recently, some college alumni started a moving service for students living on campus. They have 3 em...
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