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a.At a fast food restaurant, the hourly wage is $9 per worker. The restaurant employs 15 workers per hour, and the marginal product of labour
a.At a fast food restaurant, the hourly wage is $9 per worker. The restaurant employs 15 workers per hour, and the marginal product of labour is 3 burgers per hour. The price of a single with cheese, which we pretend is the only thing the restaurant sells, is $3.50. Is the restaurant maximizing profit? If not, would it increase profits by hiring more workers or fewer workers?
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