Homework Answers
Answer : Table showing information as follows :
| Workers | Output | MP L |
| 0 | 0 | - |
| 1 | 20 | 20 |
| 2 | 44 | 24 |
| 3 | 70 | 26 |
| 4 | 91 | 21 |
| 5 | 100 | 9 |
MP L= TP L+1 - TP L
Add Answer to:
The following table shows the relationship between workers and output for a small factory in the...
Question Help Mat Concept Question 2.12 The following table shows the relationship between workers and output...
Question Help Mat Concept Question 2.12 The following table shows the relationship between workers and output for a small factory in the short run, with capital hold constant. Find the marginal product of labor (MP) estic Workers MP NO Whi shor risin Ans See Whi shot loss ans. See Con : QUE OL See
The below table shows the weekly relationship between output and number of workers for a factory...
The below table shows the weekly relationship between output and number of workers for a factory with a fixed size of plant. Number of Workers Output MPL APL 0 0 1 50 2 110 3 300 4 450 5 590 6 600 7 575 8 540 Calculate the marginal product of labor and the average product of labor. At what point (in terms of the number of workers) does diminishing returns set in? At what point (in terms of...
Concept Question 3.15 Question Help The following table shows the daily relationship between the number of...
Concept Question 3.15 Question Help The following table shows the daily relationship between the number of workers and output (Q) for a small factory in the short run, with capital held constant. Each worker costs $200 per day, and the firm has fixed costs of $50 per day. Calculate total cost (TC), marginal cost (MC), and average total cost (ATC). (Round your answers to two decimal places.) TC MC ATC Workers 0 1 2 0 0 50 110 176 229...
The following table shows the level of output given different numbers of workers in a small...
The following table shows the level of output given different numbers of workers in a small picture frame factory. Number of Workers 1 2 Total Number of Picture Frames Produced 100 180 240 280 300 3 4 5 At which number of workers does diminishing marginal product start? 5 2 4 3
Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market....
Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor (Number of workers) 0 Output (Shovels) 0 90 2. 175 3 245 4 300 325 S Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. . Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. 400 350...
19. Computing labor productivity and its relationship to the demand for labor
19. Computing labor productivity and its relationship to the demand for labor Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor (Number of workers)Output (Shovels)001952185326043205355Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph, Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle...
The following table shows how much output a firm can produce as it relates to the...
The following table shows how much output a firm can produce as it relates to the use of both capital K and labor L: KIL 2 40 60 75 85 90 3 4 65 85 100 110 115 70 90 105 115 120 20 40 2 3 4 75 90 100 105 65 70 Starting from K-2 and L-2, if both inputs are scaled by factor t, then O A. Ift1.5, production exhibits constant returns to scale OB. Ift 2,...
odbo Questions 13-15 refer to the following table, which shows the short-run production relationship and the...
odbo Questions 13-15 refer to the following table, which shows the short-run production relationship and the output demand relationship for a firm. Labor 13. Output 20 Output Price $10.00 9.00 8.00 7.00 6.00 5.00 The table indicates that: a. the firm sells output in a perfectly competitive market the firm is a monopolist the firm hires labor in a perfectly competitive market d. the firm is a monopsonist 14. How many workers will this firm hire if the wage is...
In positive economic models of the labor market, it is assumed that workers maximize utility (happiness)....
In positive economic models of the labor market, it is assumed that workers maximize utility (happiness). firms maximize profits. resources are scarce. all of these are true. 2 points QUESTION 13 Because of the principle of __________, marginal product of labor decreases as labor increases. economies of scale. diseconomies of scale. diminishing returns. constant returns to scale. 2 points QUESTION 14 The unemployment rate is computed as the number of employed divided labor force. the number of unemployed...
The following table shows how much output a firm can produce as it relates to the...
The following table shows how much output a firm can produce as it relates to the use of both capital K and labor L: KIL 2 40 60 75 85 90 3 4 65 85 100 110 115 20 70 90 105 115 120 40 2 3 4 75 90 100 105 65 70 Which of the following statements is true? O A. The marginal product of labor is decreasing, regardless of the level of capital B. The marginal product...
Question Help Mat Concept Question 2.12 The following table shows the relationship between workers and output for a small factory in the short run, with capital hold constant. Find the marginal product of labor (MP) estic Workers MP NO Whi shor risin Ans See Whi shot loss ans. See Con : QUE OL See
Concept Question 3.15 Question Help The following table shows the daily relationship between the number of workers and output (Q) for a small factory in the short run, with capital held constant. Each worker costs $200 per day, and the firm has fixed costs of $50 per day. Calculate total cost (TC), marginal cost (MC), and average total cost (ATC). (Round your answers to two decimal places.) TC MC ATC Workers 0 1 2 0 0 50 110 176 229...
The following table shows the level of output given different numbers of workers in a small picture frame factory. Number of Workers 1 2 Total Number of Picture Frames Produced 100 180 240 280 300 3 4 5 At which number of workers does diminishing marginal product start? 5 2 4 3
Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor (Number of workers) 0 Output (Shovels) 0 90 2. 175 3 245 4 300 325 S Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. . Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. 400 350...
The following table shows how much output a firm can produce as it relates to the use of both capital K and labor L: KIL 2 40 60 75 85 90 3 4 65 85 100 110 115 70 90 105 115 120 20 40 2 3 4 75 90 100 105 65 70 Starting from K-2 and L-2, if both inputs are scaled by factor t, then O A. Ift1.5, production exhibits constant returns to scale OB. Ift 2,...
odbo Questions 13-15 refer to the following table, which shows the short-run production relationship and the output demand relationship for a firm. Labor 13. Output 20 Output Price $10.00 9.00 8.00 7.00 6.00 5.00 The table indicates that: a. the firm sells output in a perfectly competitive market the firm is a monopolist the firm hires labor in a perfectly competitive market d. the firm is a monopsonist 14. How many workers will this firm hire if the wage is...
The following table shows how much output a firm can produce as it relates to the use of both capital K and labor L: KIL 2 40 60 75 85 90 3 4 65 85 100 110 115 20 70 90 105 115 120 40 2 3 4 75 90 100 105 65 70 Which of the following statements is true? O A. The marginal product of labor is decreasing, regardless of the level of capital B. The marginal product...
Most questions answered within 3 hours.
-
From past history, the scores on a statistics test are normally
distributed with a mean of...
asked 26 minutes ago -
Calculate the gravitational field strength on the highest peak
of Everest (8848 m above the Earth).
asked 26 minutes ago -
the energy value of carbohydrates is 4.0 cal/g. calculate the
energy in 250 g of carbohydrates,...
asked 28 minutes ago -
i
need the summary of this article “Why I Don’t Trust The Video Games
Cause Violence”...
asked 47 minutes ago -
Draw the reactants and products of the following
reaction:
3-ethyl-2-heptene + HOH → 3-ethyl-3-heptanol +
3-ethyl-2-heptanol...
asked 45 minutes ago -
Determine the ratio of adipic acid and butylene glycol that
should be used to obtain a...
asked 54 minutes ago -
Calculate the ratio of the resistance of 11.0 m of aluminum wire
2.5 mm in diameter,...
asked 48 minutes ago -
Kinkaid Co. is incorporated at the beginning of this year and
engages in a number of...
asked 52 minutes ago -
when setting up a simple pendulum, calculate the string length
required for the period to equal...
asked 1 hour ago -
: A small but very close dense mass of 389 kg is brought close
to a...
asked 1 hour ago -
Create a class called Hotel. The hotel class will track the
current reservations for your one-room...
asked 1 hour ago -
In space, a 4.0 kg metal ball moving 30 m/s has a head on
collision with...
asked 1 hour ago