Spud sells French fries at the county fair and charges $6 per bucket of fries. By hiring one cook at $10 per hour, the stand can provide 240 buckets of fries per eight-hour day. By hiring a second cook at the same wage rate, the stand can now provide a total of 420 buckets per day. Calculate the marginal product of the second cook.
Spud sells French fries at the county fair and charges $6 per bucket of fries. By hiring one cook at $10 per hour, the stand can provide 240 buckets of fries per eight-hour day. By hiring a second cook at the same wage rate, the stand can now provide a total of 420 buckets per day. Calculate the marginal product of the second cook.
Chapter16: The Markets For Labor, Capital, And Land
Section: Chapter Questions
Problem 6P
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Spud sells French fries at the county fair and charges $6 per bucket of fries. By hiring one cook at $10 per hour, the stand can provide 240 buckets of fries per eight-hour day. By hiring a second cook at the same wage rate, the stand can now provide a total of 420 buckets per day. Calculate the marginal product of the second cook.
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