Rebeca's Cookies- a competitive firm sells its output for $3.5 per box. The marginal product of the 4th worker is 35 boxes of cookies per day; the marginal product of the 5th worker is 32 box of cookies per day. The firm pays its workers a wage of $120 per day. What is the value of the marginal product of the 4th worker? ? $112. ? $122.5. ? $14. O $120
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Step 1: The value of the marginal product of the 4th worker is the additional revenue generated by the 4th worker. Show more…
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