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Gino's Pizza shop hires workers in a competitive market to make pizza. The ingredients required to make each pizza cost $5. Daily output at Gino's
Gino's Pizza shop hires workers in a competitive market to make pizza. The ingredients required to make each pizza cost $5. Daily output at Gino's Pizza varies with the number of workers hired, as shown in the table below:
If pizzas sell for $8 each, what is the value marginal product for the 4th worker?
Select one:
a. $96 per day
b. $112 per day
c. $48 per day
d. $128 per day
Number of Pizzas/day workers 0 0 16 36 54 70 84 96 2 4Step by Step Solution
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