Michelle's accounting company is considering hiring an additional bookkeeper. Currently, the marginal product of the next bookkeeper is estimated to be 15 hours of work per week, generating $300 in revenue. If the cost of hiring this bookkeeper is $200 per week, what should the company do according to marginal analysis principles?

According to marginal analysis, the company should compare the additional revenue generated by hiring the next bookkeeper to the cost of hiring them. In this case, the bookkeeper is expected to generate $300 in revenue each week, while the cost to hire them is only $200. Since the additional revenue of $300 is greater than the cost of $200, the company would benefit financially by hiring the bookkeeper. This means the company should proceed with the hiring, as it will lead to an increase in profit. For example, if the company hires the bookkeeper, it will make an extra $100 each week after covering the hiring cost.