13 Calculate the marginal product of hiring the fourth worker and the fourth worker’s value of marginal product.

Kaiser’s Smoothie Bar in Bonn hires workers to produce smoothies. The market for smoothies is perfectly competitive, and the price of a smoothie is €4. The labour market is competitive, and the wage rate is €40 a day. The table shows the workers’ total product schedule:

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Number of workers Quantity produced (smoothies per day) 1 2 7 21 3 33 4 43 5 51 6 55