Homework Answers
marginal output = Change in output / Change in labor quantity.
Here, the marginal output will be 00, 60, 50,30 , 20 ans so on.
Decline in the marginal productivity starts from the 3rd labor.
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3.) The following table shows a short-run production function for laptop computers. Use the data to...
The following table shows a short-run production function for yoga pants. Use the data to determine...
The following table shows a short-run production function for yoga pants. Use the data to determine where diminishing targinal product begins. Number of workers Total output of yoga pants 120 325 Diminishing marginal product begins when the company hires worker number
The following table shows a short-run production function for tablets. Use the data to determine where diminishing margi...
The following table shows a short-run production function for tablets. Use the data to determine where diminishing marginal product begins. Number of workers Total output of tablets 0 0 1 50 2 120 3 180 4 230 5 280 6 325 7 320 8 310 Diminishing marginal product begins when the company hires worker number
In the short run, a manufacturer of toys has the following production function, which shows the...
In the short run, a manufacturer of toys has the following production function, which shows the relationship between the number of workers employed and the number of toys built in a month. Toys Workers Number per month) AWN 38 According to the above table, diminishing returns first become apparent with the hiring of which worker? 1 N un MacBook Air
Econ 250 Chapter 8 Homework Name 1. (2.5 points) The following table shows a short-run production...
Econ 250 Chapter 8 Homework Name 1. (2.5 points) The following table shows a short-run production function for laptop computers. Fll Chapter 8 Homework in the last column and then answer the question that follows Number of Workers Total Output of Laptop Computers Marginal Product of each 0 Worker 0 N/A 80 200 300 4 360 5 400 With what worker does diminishing marginal product set in? (3 points) A pizza business has the following cost structure. Use the given...
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...
Answer the following questions based on the following production function: Does this production function represent the...
Answer the following questions based on the following production function: Does this production function represent the long run or the short run? Explain. Suppose capital (K) is held fixed at 3 units and the firm hires 5 workers. What is the average product? What is the marginal product of adding the 6^th worker? Does the production function eventually exhibit diminishing returns? If so, where and why does this occur? Depict the isoquants for the production function for output levels 27...
Can someone please help me solve this? 1. A basic assumption of the short run is that a firm: A) B) C) can employ more workers and add more capital to the production process. cannot adjust its workfo...
Can someone please help me solve this?
1. A basic assumption of the short run is that a firm: A) B) C) can employ more workers and add more capital to the production process. cannot adjust its workforce or the amount of capital it uses. can reduce the number of workers it uses, but it cannot adjust how much capital it D) can freely adjust the amount of labor and capital that it employs. Use the following to answer question...
Use the data underlying the following two tables: The top table shows this data in production...
Use the data underlying the following two tables: The top table shows this data in production form; the bottom table assumes that capital costs $100/unit and labor costs $100/unit. Please fill in the tables, showing your formulas. Labor Capital Output Average Product of Labor Marginal Product of Labor 0 10 0 ----- ----- 1 10 30 2 10 80 3 10 140 4 10 190 5 10 230 6 10 260 7 10 280 Show Your Formulas! Output Fixed Costs...
Complete the following table for the following production function 8) The production function and the diminishing...
Complete the following table for the following production
function
8) The production function and the diminishing average product of labor a) Complete the following table for the following production function (round off to nearest whole number): | | Average product of labor (kg/worker) # of workers 10 20 30 40 50 60 70 80 Grain output (kg) 632 894 1,095 1,265 1,414 1,549 1,673 1,789 b) Given the above data graph the production function. Show how to represent the average...
Suppose that a firm is producing in the short run when machine number is fixed. It...
Suppose that a firm is producing in the short run when machine number is fixed. It knows that as the number of workers used in the production process increases, the number of output changes according to the following table: # of workers # of output 0 0 1 10 2 17 3 22 # of workers # of output 4 25 5 26 6 25 7 23 1. Calculate the marginal and average products of labor for each additional worker....
The following table shows a short-run production function for yoga pants. Use the data to determine where diminishing targinal product begins. Number of workers Total output of yoga pants 120 325 Diminishing marginal product begins when the company hires worker number
In the short run, a manufacturer of toys has the following production function, which shows the relationship between the number of workers employed and the number of toys built in a month. Toys Workers Number per month) AWN 38 According to the above table, diminishing returns first become apparent with the hiring of which worker? 1 N un MacBook Air
Econ 250 Chapter 8 Homework Name 1. (2.5 points) The following table shows a short-run production function for laptop computers. Fll Chapter 8 Homework in the last column and then answer the question that follows Number of Workers Total Output of Laptop Computers Marginal Product of each 0 Worker 0 N/A 80 200 300 4 360 5 400 With what worker does diminishing marginal product set in? (3 points) A pizza business has the following cost structure. Use the given...
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...
Answer the following questions based on the following production function: Does this production function represent the long run or the short run? Explain. Suppose capital (K) is held fixed at 3 units and the firm hires 5 workers. What is the average product? What is the marginal product of adding the 6^th worker? Does the production function eventually exhibit diminishing returns? If so, where and why does this occur? Depict the isoquants for the production function for output levels 27...
Can someone please help me solve this?
1. A basic assumption of the short run is that a firm: A) B) C) can employ more workers and add more capital to the production process. cannot adjust its workforce or the amount of capital it uses. can reduce the number of workers it uses, but it cannot adjust how much capital it D) can freely adjust the amount of labor and capital that it employs. Use the following to answer question...
Complete the following table for the following production
function
8) The production function and the diminishing average product of labor a) Complete the following table for the following production function (round off to nearest whole number): | | Average product of labor (kg/worker) # of workers 10 20 30 40 50 60 70 80 Grain output (kg) 632 894 1,095 1,265 1,414 1,549 1,673 1,789 b) Given the above data graph the production function. Show how to represent the average...
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