Carly has two children under 13 and worked full time while her spouse, Michael, was attending college for 9 months during the ye
1 answer:
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Answer:
$1.07
Explanation:
The marginal cost measures the change in total cost of adding on more worker divided by the change in product for this additional worker (marginal product of labor). When adding one more worker, costs will increase by $80 (wage rate), while product will increase by 75. Therefore, the marginal cost is:
The marginal cost is $1.07.