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New employee''s marginal product of labor

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Reference no: EM131877057

Recently, some college alumni started a moving service for students living on campus. They have 3 employees and are debating hiring 1 more. The hourly wage for an employee is $30 per hour. An average moving job takes 4 hours. The company currently does 3 moving jobs per week, but with 1 more employee, the company could manage 5 jobs per week. The company charges $100 for a moving job.

Instructions: Round your answers to the nearest whole number.

a. The new employee's marginal product of labor is moving jobs.

b. The value of that marginal product is $.

Reference no: EM131877057

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