Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700. Jills marginal product of labor from the last worker hired equals OA) 700 OB) 690 OC) 20 OD) 10

Jill's marginal product of labor from the last worker hired is calculated by looking at the increase in output from hiring that worker. By adding one more worker, Jill's total production increased from 690 to 700 machines, which means the marginal product of this last hired worker is 10 machines. So, the answer is OD) 10. In the world of economics, understanding marginal product is key! It helps businesses like Jill's determine if hiring additional workers makes sense financially, as they want to ensure that the extra output outweighs the cost of hiring more staff. It’s a simple yet powerful tool!