The marginal cost of the new worker hired to sell spring break vacation packages is $200 per day.
The marginal cost in economics is the change in total production cost that results from making or producing one additional unit. Divide the change in production costs by the change in quantity to calculate marginal cost.
The marginal cost of the new worker per day is calculated as:-
Each worker is paid $100 per day
An experienced worker sells 5 packages per day
Total cost for an experienced worker = $100× 5 = $500
Newly hired worker sells 3 packages per day
Total cost for a new worker = $100× 3 = $300
∴ The marginal cost of the new worker per day = Total cost of a experienced worker - Total cost of a new worker = $(500-300) = $200.
Therefore, $200 is the marginal cost of the new worker per day.
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