Problem
A large media company is employing three PR managers, each earning $250 per day. Due to the pandemic and the increased demand for TV shows, a fourth manager needs to be hired. The company is aware that PR managers in the media industry know each other well. It is also common knowledge that PR managers can get quite jealous and would refuse to work if not paid the same salary as their peers in the same firm. A PR manager has been interviewed for the fourth position and would be willing to join the media company for a salary of 300$ per day. The three PR managers already employed learnt about this request. What is the marginal cost (per day) of hiring the fourth PR manager?