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A California asparagus farmer is maximizing profit. The price of asparagus is $2 a box, a farm worker's wage rate is $12 an hour, and the asparagus farm employs six workers.

a. What is the marginal product of the sixth worker?

b. If, when the price of asparagus increases to $3 a box,the farm hires eight workers, what is the marginal product of the eight worker?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9496232

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