When the store hires two workers, they are able to serve 17 customers per hour. When the store hires three workers they are able to serve 31 customers per hour. Each customer spends an average of $6 in the store. What is the marginal benefit of hiring the third worker? Enter a whole number, with no dollar sign. Question 2 When a firm produces one more unit of output the total revenue increases from $807 to $1,013, and the total cost increases from $536 to $660. When this last unit of output was produced, what was the change in profit? Enter a whole number with no dollar sign. Enter a negative sign if appropriate.

When the store hires two workers, they are able to serve 17 customers per hour. When the store hires three workers they are able to serve 31 customers per hour. Each customer spends an average of $6 in the store. What is the marginal benefit of hiring the third worker? Enter a whole number, with no dollar sign. Question 2 When a firm produces one more unit of output the total revenue increases from $807 to $1,013, and the total cost increases from $536 to $660. When this last unit of output was produced, what was the change in profit? Enter a whole number with no dollar sign. Enter a negative sign if appropriate.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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