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Isaac started an iphone screen replacement business. he charges $15 for each screen his shop replaces. isaac currently employs 4 workers and the shop replaces 43 screens per day. business is good, so he is considering hiring another worker. if he did, the total number of screens his shop can replace each day would be 49. what is the value of the marginal product of labor for the 5th worker? $ ____

Answer :

okpalawalter8

Isaac started an iPhone screen replacement business. he charges $15 for each screen his shop replaces, the value of the marginal product of labor for the 5th worker is mathematically given as  

M=$90

What is the value of the marginal product of labor for the 5th worker?

Generally, It is the change in value or production that occurs when a new worker is hired.

Therefore, the value of the output from hiring 4 & 5workers

V4= $ 15* 43

V4= $ 645

and V8

V5=$ 15 * 49

V5 = $ 735

In conclusion, the marginal product

M= $ 750 - $ 645

M=$90

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