Solved: Wandas is a fish store that hires students to pack the fish, Microeconomics

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Wandas is a fish store that hires students to pack the fish

Question: Wanda's is a fish store that hires students to pack the fish. Students can pack the following amounts of fish:

Number of Quantity of fish packed
students (kilograms per hour)

1 20

2 50

3 90

4 120

5 145

6 165

7 180

8 190

The fish market is competitive and the price of fish is 50¢ a kilogram. The market for packers is competitive and their market wage rate is $7.50 an hour.

Calculate the value of marginal product of labour and draw the value of marginal product curve.

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Microeconomics: Wandas is a fish store that hires students to pack the fish

Reference No:- TGS02410048

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