How does the students’ marginal product change? How does the value of marginal product of labor change?

The market price of fish falls to 66¢ a pound, but the packers’ wage rate remains at $12.50 an hour.

Wanda’s is a fish store that hires students to pack the fish. Students can pack the following amounts of fish:The fish market is competitive and the price of fish is $1 a pound. The market for packers is competitive and their market wage rate is $12.50 an hour.

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Number of students 1234 IOGT 00. 2 3 5 6 7 8 Quantity of fish packed (pounds) 20 50 90 120 145 165 180 190