A California asparagus farmer is maximizing profit. The price of asparagus is $2 a bunch, a farm
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A California asparagus farmer is maximizing profit. The price of asparagus is $2 a bunch, a farm worker’s wage rate is $12 an hour, and the asparagus farm employs six workers. What is the marginal product of the sixth farm worker? If, when the price of asparagus rises to $3 a bunch, the farm hires eight workers, what is the marginal product of the eighth worker?
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The marginal product of the sixth worker is 6 bunches ...View the full answer
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