Why might be increasing marginal product of labor associated

Reference no: EM131919178

Problem

1. Explain why self-employed business owners frequently overestimate their profit levels.

2. Imagine a restaurant in which tables are spread over a large area, and there is only one waitperson. Explain to the manager why there might be increasing marginal product of labor associated with hiring a second waitperson.

Reference no: EM131919178

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