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iPad 9:23 PM * 77%- courses.aplia.com Chapter 15 Enzyme Reg sli... bbhosted.cuny.edu/bbesw... Amazon Sign In Aplia: Student Question Reviews The Markets for the Factors of Production: End of Chapter (Mobile-Enabled) Graded Assignment | Read Chapter 18 1 Back to Assignment Due Sunday 12.10.17 at 1100 PM Attempts: Average: 1 9. Problems and Applications Q6 Your enterprising uncle opens a sandwich shop that employs 7 people. The employees are paid $12 per hour, and a sandwich sells for $6 f your undle is maximizing his profit, the valiue of the marginal product of the last worker he hiredand that worker's marginal product sandwiches per hou Contnue without saving Notices Terms of use , Privacy Notice Security Notice . Accessbity

Explanation / Answer

(1) Value of marginal product = $12

[When profit is maximized, VMP = Wage rate]

(2) That workers marginal product = 2

[VMP = Output price x MP = Wage rate, so MP = Wage rate / Output price = $12/$2 = 6]

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