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Wanda owns a fish shop. She employs students to sort and pack the fish. Students can pack the following amounts of fish in an hour. Wanda can sell her fish for 33.33 cents a pound, and the wage rate of packers is $7.50 an hour.
Number of students
Quantity of fish (pounds)
Marginal product of the students
Marginal revenue product of the students
1
20
2
50
3
90
4
120
5
145
6
165
7
180
8
190
a. Calculate the marginal product and the marginal revenue product of the students, then fill out the last two blank columns.
b. How many students does Wanda employ?
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