A new coffee shop opens and to maximize profit it hires 5 workers at the competitive wage rate. The price of a cup of coffee is $4 and the value of marginal product of workers in the coffee shop is $12 an hour. What is the marginal product of the coffee shop workers? How much does a coffee shop worker earn?
- OiyLv 68 months ago
It's surely $3. He/she should earn exactly $12.
- Anonymous8 months ago
Post this on Chegg, we aren't smart here on Yahoo Answers.