A boutique logistics firm currently employs 24 delivery drivers at a daily wage rate of £120.00\pounds120.00£120.00. To recruit one additional driver, the firm must increase the daily wage rate for all drivers by £2.50\pounds2.50£2.50.
What is the marginal cost to the firm of employing this additional driver?
£122.50\pounds122.50£122.50
£182.50\pounds182.50£182.50
£185.00\pounds185.00£185.00
£3,062.50\pounds3,062.50£3,062.50
16 exam-style questions on OCR A Level Economics Demand for labour. Each one has a worked solution and a mark scheme showing where the marks go.