A firm currently has 5 workers each paid $15 per hour.If it decides to hire a 6th worker,the hourly wage increases to $18 for all workers.What is the marginal cost of hiring the 6th worker?
A)$3
B)$18
C)$15
D)$33

Question

Quizplus · Accepted Answer

The marginal cost of hiring the 6th worker includes the additional cost of increasing the wage for all workers. The increase is $3 per hour for each of the 5 existing workers, totaling $15, plus the $18 wage for the 6th worker, resulting in a total marginal cost of $33.

A Firm Currently Has 5 Workers Each Paid $15 Per