A firm currently has 5 workers each paid $15 per hour. If it decides to hire a 6 th worker, the hourly wage increases to
A firm currently has 5 workers each paid $15 per hour. If it decides to hire a 6th worker, the hourly wage increases to $18 for all workers. What is the marginal cost of hiring the 6th worker?
| a. | $3 | |
| b. | $18 | |
| c. | $15 | |
| d. | $33 |
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Solution The marginal cost of hiring the 6th worker is total ...
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Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
5th Edition
132752670, 978-0132752671
