Your enterprising uncle opens a sandwich shop that employs 5 people. The employees are paid $12 per hour, and a sandwich sells for $4.
If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is ___________, and that worker's marginal product is _______ sandwiches per hour.
Ans: If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is 12 and that worker's marginal product 3 sandwiches per hour.
value of the marginal product = 12
Marginal product = 12/4 = 3
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