Question

A paint store offers a limited edition of red, blue, and green paint. On Monday, there were 60 cans of paint sold. The red paint can cost 25, the blue can cost20, and the green can cost 30. The store sold a total of1,450 worth of paint on Monday. Set up this matrix to find the number of paint cans sold on Monday:

Answer 1

The marginal product of the third painter is the additional area painted due to the third painter's efforts, which is 75 square feet per hour beyond the 200 square feet painted by the first two painters.

Step-by-step explanation:

To calculate the marginal product of the third painter, we need to determine the additional output produced by the third painter after the output provided by the first two painters has been taken into account. With two painters, the output is 200 square feet per hour. With three painters, the output increases to 275 square feet per hour.

The additional output provided by the third painter, which is the marginal product, can be calculated by subtracting the output of two painters from the output of three painters:

Marginal Product of the Third Painter = Output with Three Painters - Output with Two Painters

Marginal Product of the Third Painter = 275 sq ft - 200 sq ft

Marginal Product of the Third Painter = 75 sq ft

Therefore, the marginal product of the third painter is 75 square feet per hour.