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Construct a table showing the net marginal revenue product

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Please provide Show step by step how you obtained your final result. The Route 66 Truck Stop, Inc., sells gasoline to both self-service and full-service customers. Those who pump their own gas benefit from the lower self-service price of $1.80 per gallon. Full-service customers enjoy the service of an attendant, but they pay a higher price of $1.90 per gallon. The company has observed the following relation between the number of attendants employed per day and full-service output:

Route 66 Truck Stop, Inc.

Number of Full- Services

Attendants Output per Day (gallons)

0 0

1 2,000

2 3,800

3 5,400

4 6,800

5 8,000

a. Construct a table showing the net marginal revenue product derived from attendant employment.

b. How many attendants would Route 66 employ at a daily wage rate of $160 (including wages and benefits)?

c. What is the highest daily wage rate Route 66 would pay to hire four (4) attendants per day?

Reference no: EM132831736

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