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Author Question: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table shows ... (Read 795 times)

mmm

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Quantity of
Labor      
Total Product    
(gymnasts trained per hour)  
A0
B17
C213
D317
E419
F520


The table shows information for Jen's Gymnastics. Jen hires coaches and can charge $20 per hour for gymnastics lessons. Jen's Gym pays coaches $30 per hour. The table shows that Jen's Gym will hire ________ coaches because ________.
◦ any number less than 5; the marginal product stops increasing with the fifth coach
◦ 4; the gym will earn a profit because the value of marginal profit exceeds the wage rate., but hiring a fifth coach will reduce profit
◦ 1; the value of marginal product is the highest
◦ 5; the marginal product is at its maximum
◦ 5; total product reaches its maximum


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Marked as best answer by mmm on May 24, 2019

dpost18

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