Taco King produces tacos
The market for tacos is perfectly competitive, and the price is $3.50 a taco. The labor market is competitive, and the wage rate is $105.00 a day
The table shows part of the workers total product schedule
Calculate the marginal product of hiring the third worker and the value of the marginal product of the third worker
The marginal product of hiring the third worker is tacos a day
The value of the marginal product of the third worker is
Saday
Tacos
Workers
2
per day 44
3
80
4
110
5
134
6
146