The following table contains the relationship between a number of trainers working at the new gym (Crossfit by Shawna)and how many clients they can train.These clients represent the output of trainers.Clients pay $40 per session.
a.Find the marginal product of labor (MPL)and the value of the marginal product of labor (VMPL)for each additional trainer hired,and record these numbers in columns on the table.
b.Crossfit by Shawna's premier trainers earn $200 an hour.How many trainers will the gym hire?
Definitions:
Product Differentiation
A tactic used by companies to distinguish their products from those of competitors by highlighting unique features.
Customization
The process of modifying goods or services to meet specific customer preferences or requirements.
Americans
Refers to the citizens or natives of the United States, often in the context of discussing national identity, culture, or social issues.
Product Differentiation
A marketing strategy that businesses use to distinguish their products from similar offerings in the market by highlighting unique features, quality, or brand.
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