Karolina owns a small diner, where she works full time in th…

Karolina owns a small diner, where she works full time in the kitchen. Her total revenue last year was $100,000, and her rent was $3,000 per month. She pays her one employee $2,000 per month, and the cost of ingredients averages $1,000 per month. Karolina could earn $50,000 per year as the manager of a competing diner nearby. Her economic profit last year was

Lester owns a home furnishings manufacturing shop that produ…

Lester owns a home furnishings manufacturing shop that produces, among other things, framed mirrors. She has four employees; they can produce 25 mirrors per day. If she hired a fifth employee, she’d be able to produce 30 mirrors per day. Therefore, the marginal product of the fifth employee is __________ framed mirror(s).