4 How does the students marginal product change? How does the value of marginal product of labour...

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4 How does the students’ marginal product change? How does the value of marginal product of labour change?

The market price of fish falls to 33 cents a kilogram, but the packers’ wage rate remains at €7.50 an hour.

Wanda owns a fish shop in Barcelona. She employs students to sort and pack the fish. Students can pack the following amounts of fish in an hour:

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The fi sh market is competitive. The market price of fi sh is 50 cents a kilogram and the wage rate of packers is €7.50 an hour

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Economics

ISBN: 9781118150122

10th European Edition

Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews

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Question Posted: Nov 06, 2024 07:00 AM

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4 How does the students marginal product change? How does the value of marginal product of labour...

Question:

Number of students 1 23 Quantity of fish (kilograms) 20 50 90 4 120 569 145 165 180 8 190

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Economics

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