-Kevin owns a personal training gym in Laredo,Texas.He charges $41 per session.The above table shows the marginal product of trainers in Kevin's gym.If Kevin hires three trainers,the value of marginal product of the third trainer equals

Question

Quizplus · Accepted Answer

The value of the marginal product of the third trainer is calculated by multiplying the marginal product (the additional output or clients brought in by the third trainer) by the price per session. If the marginal product of the third trainer is not provided directly, we assume it's a missing detail necessary for calculation. Typically, the value of the marginal product is found by multiplying the marginal product (in clients) by the price charged per session ($41). Without the specific marginal product value for the third trainer, we can't calculate directly but the correct approach involves this multiplication. Thus, the correct answer involves the price per session, making $82 a plausible outcome if the third trainer's marginal product was 2 clients, as an example.

-Kevin Owns a Personal Training Gym in Laredo,Texas