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Wanda owns a fish shop She employs students to sort and pack the fish Students can pack the following amounts of fish in an hour Wanda can sell her fish for 33.33 cents a pound

Wanda owns a fish shop. She employs students to sort and pack the fish. Students can pack the following amounts of fish in an hour. Wanda can sell her fish for 33.33 cents a pound, and the wage rate of packers is $7.50 an hour.

 

 

 

Number of students

Quantity of fish (pounds)

Marginal product of the students

Marginal revenue product of the students

1

20

 

 

2

50

 

 

3

90

 

 

4

120

 

 

5

145

 

 

6

165

 

 

7

180

 

 

8

190

 

 

 

 

 

a. Please calculate the marginal product and the marginal revenue product of the students, then fill out the last two blank columns.

 

 

 

 

 

 

 

b. How many students does Wanda employ?

Apr 30 2020 View more View Less

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