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:
Collection Pattern
The typical manner or schedule with which a business collects payments from its customers.
Credit Sales
Sales transactions where the payment is deferred to a future date, typically involving a credit agreement.
Collection Schedule
A plan or timetable for collecting receivables from customers, detailing the timing of payments to be received.
Uncollectible
Refers to accounts receivable or debts that are deemed unlikely to be collected and may be written off as bad debts.
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