Homework Answers
MPL = Change in total output per increase in labor
APL = Q / L
| L | Q | MPL | APL |
| 0 | 0 | 0 | 0 |
| 1 | 20 | 20 | 20.00 |
| 2 | 60 | 40 | 30.00 |
| 3 | 150 | 90 | 50.00 |
| 4 | 260 | 110 | 65.00 |
| 5 | 350 | 90 | 70.00 |
| 6 | 420 | 70 | 70.00 |
| 7 | 455 | 35 | 65.00 |
| 8 | 420 | -35 | 52.50 |
| 9 | 375 | -45 | 41.67 |
| 10 | 300 | -75 | 30.00 |
Diminishing return sets at 5th labor as MPL starts to fall at this level
Add Answer to:
8. Calculate the marginal product of labor and average product of labor at each level of...
Please answer the two sub-parts Question 4 (20 points) A firm has the following short-run production...
Please answer the two sub-parts
Question 4 (20 points) A firm has the following short-run production function as follows: Q = 15L +18L2-0.5L, where Q = total products per period and L = number of workers employed per period. 4.1) (3 points) Derive the marginal product of labor (MPL). At what number of workers (L) does the law of diminishing returns begin? MPL = f(L) = Law of diminishing return begins when L = workers. . 4.2) (3 points) Derive...
Q = 120 L +6L -0.4L 1. What is the maximum level of production (Q) in...
Q = 120 L +6L -0.4L 1. What is the maximum level of production (Q) in units that this firm can attain per week? 2. At what level of labor utilization (L) is the Average Productivity of Labor maximized? PLEASE DO NOT ROUND-OFF YOUR LEVEL OF L. What is the APL or average production, in units, when APL reaches its maximum? 3. Beyond what level of labor utilization (L) does the Law of Diminishing Marginal Returns (or Productivity) begin to...
The marginal product of labour (MPL) at a particular labour input level (L) corresponds to the...
The marginal product of labour (MPL) at a particular labour input level (L) corresponds to the __ on the total product of labour (TPL) curve. O area under the curve between 0 and a particular level of L area above the curve between 0 and a particular level of L slope of the ray from the (0,0) origin to the particular level of L slope of a tangent line at the particular level of L The average product of labour...
QUESTION 5 The marginal product for labor is given (MP) = 3 – 0.02*L; price of...
QUESTION 5 The marginal product for labor is given (MP) = 3 – 0.02*L; price of the product is $100 and wage = 200. Based on information above, the marginal product of labor at the optimal level of employment is $3 $2 $1.5 $1 2 points QUESTION 6 If the labor elasticity of output is 0.5 and the capital elasticity of output is 0.9, then the production function exhibits constant returns to scale. economies of scale. diseconomies of scale. diminishing...
Question 1- Stages of production ؟ Inputs of labor Total Product (TPL) Marginal product of labor...
Question 1- Stages of production ؟ Inputs of labor Total Product (TPL) Marginal product of labor (MPL) Average product of labor (APL) Stages of production 0 0 — — 1 60 2 110 3 150 4 185 5 210 6 225 7 230 8 235 9 230
21. Refer to the above graph. It shows the marginal product of labor (MP) and the...
21. Refer to the above graph. It shows the marginal product of labor (MP) and the average product of labor (APL). At which point above does diminishing marginal returns set in? A. Point A B. Point B C. Point C D. Point D Assume that the only variable resource used to produce output is labor. Amount of Labor Total Product 6 1 16 2 24 3 30 4 34 36 22. Refer to the above table. The marginal product of...
Based on the data shown here, how much is the average product of labor when 5...
Based on the data shown here, how much is the average product of labor when 5 units of labor are employed? # Workers (L) Total Output(Q) o 0 1 20 2 45 3 75 4 110 5 150 6 200 7 260 8 300 9 330 10 350 11 360 12 360 13 340
only number 5 Write an expression of the marginal cost function MC. Estimate the effect on...
only number 5
Write an expression of the marginal cost function MC. Estimate the effect on TC about by 2 units decrease in from the current output level of 15 units. 5) A firm's short-run production function is given by Q = 50L -.0212 Where L denotes the number of workers. 1. Find the size of the workforce that maximizes output. 2. Find marginal product of labor (MPL) 3. Find the average product of labor (APL) 4. Find the size...
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...
The figure below contains the short-run total product curve (TPsR) for a firm. It graphs its...
The figure below contains the short-run total product curve (TPsR) for a firm. It graphs its output (q) as a function of hired labor (L) 2.a) Graphically illustrate on the figure below the extent of both the average product of labor (APL) and the marginal product of labor (MP) at point A. 2.b) At point A is MPL APL or is MPL APL? 2.c) Locate a point on TP (label it C) where MPL is negative. 2.e) Locate a point...
Please answer the two sub-parts
Question 4 (20 points) A firm has the following short-run production function as follows: Q = 15L +18L2-0.5L, where Q = total products per period and L = number of workers employed per period. 4.1) (3 points) Derive the marginal product of labor (MPL). At what number of workers (L) does the law of diminishing returns begin? MPL = f(L) = Law of diminishing return begins when L = workers. . 4.2) (3 points) Derive...
Q = 120 L +6L -0.4L 1. What is the maximum level of production (Q) in units that this firm can attain per week? 2. At what level of labor utilization (L) is the Average Productivity of Labor maximized? PLEASE DO NOT ROUND-OFF YOUR LEVEL OF L. What is the APL or average production, in units, when APL reaches its maximum? 3. Beyond what level of labor utilization (L) does the Law of Diminishing Marginal Returns (or Productivity) begin to...
The marginal product of labour (MPL) at a particular labour input level (L) corresponds to the __ on the total product of labour (TPL) curve. O area under the curve between 0 and a particular level of L area above the curve between 0 and a particular level of L slope of the ray from the (0,0) origin to the particular level of L slope of a tangent line at the particular level of L The average product of labour...
21. Refer to the above graph. It shows the marginal product of labor (MP) and the average product of labor (APL). At which point above does diminishing marginal returns set in? A. Point A B. Point B C. Point C D. Point D Assume that the only variable resource used to produce output is labor. Amount of Labor Total Product 6 1 16 2 24 3 30 4 34 36 22. Refer to the above table. The marginal product of...
Based on the data shown here, how much is the average product of labor when 5 units of labor are employed? # Workers (L) Total Output(Q) o 0 1 20 2 45 3 75 4 110 5 150 6 200 7 260 8 300 9 330 10 350 11 360 12 360 13 340
only number 5
Write an expression of the marginal cost function MC. Estimate the effect on TC about by 2 units decrease in from the current output level of 15 units. 5) A firm's short-run production function is given by Q = 50L -.0212 Where L denotes the number of workers. 1. Find the size of the workforce that maximizes output. 2. Find marginal product of labor (MPL) 3. Find the average product of labor (APL) 4. Find the size...
The figure below contains the short-run total product curve (TPsR) for a firm. It graphs its output (q) as a function of hired labor (L) 2.a) Graphically illustrate on the figure below the extent of both the average product of labor (APL) and the marginal product of labor (MP) at point A. 2.b) At point A is MPL APL or is MPL APL? 2.c) Locate a point on TP (label it C) where MPL is negative. 2.e) Locate a point...
Most questions answered within 3 hours.
-
Consider a different car. Its initial position at time 5 s is
5m, and it moves...
asked 57 seconds ago -
An electric power station that operates at 25 kV and uses a 20:1
step-up ideal transformer...
asked 3 minutes ago -
Discuss the sales orders process module(s) in the Enterprise
Resource Planning system. How does it contribute...
asked 18 minutes ago -
Which of the eight traits/ skills associated with being an
effective project manager is the most...
asked 2 minutes ago -
In the Metric System, the basic unit of measurement for length
is ___
In the Metric...
asked 9 minutes ago -
A spatially uniform electric field varies in time according
to E = Eo + 3000 t,...
asked 10 minutes ago -
A sample of C3H8 has 1.60×1024 H atoms.
How many carbon atoms does the sample contain?...
asked 16 minutes ago -
The position in an object as a function of time is given as ?
(?) =...
asked 19 minutes ago -
Design a class for python named PersonData with the following
member variables:
lastName
firstName
address
city...
asked 33 minutes ago -
How does use of the risk/need/responsivity model impact
effective rehabilitation services?
asked 37 minutes ago -
Your rich uncle has just given you a high school graduation
present of $900,000. The present,...
asked 39 minutes ago -
1=Write a program in C to get 16-bit data from Port-D and send
it to ports...
asked 38 minutes ago