Homework Answers
When the first worker is hired the increase in total product is by 9 units. When the second worker is hired the increase in total product is by 10 units. However when the third worker is hired, total product increases by 8 units. there are diminishing returns when total product increases by a decreasing rate for additional labour units employed. In this case total product starts increasing at diminishing rate when the third worker is employed.
The answer is 3.
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In the short run, a manufacturer of toys has the following production function, which shows the...
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
3.) The following table shows a short-run production function for laptop computers. Use the data to...
3.) The following table shows a short-run production function for laptop computers. Use the data to determine where diminishing returns begin. (1 point) Number of Workers Total Output of Computers 40 100 1501 00 v auAWNHO 180 200 205 200 190
Question 11 Production in the Short Run Labor Total Product UAWNO Reference: Ref 741 worker (Table)...
Question 11 Production in the Short Run Labor Total Product UAWNO Reference: Ref 741 worker (Table) According to the table, diminishing returns occur when hiring __ A. the first B. the third C. the fourth D. the second
Given the following production function for Tight Jeans Corporation, calculate the marginal physical product, graph the...
Given the following production function for Tight Jeans Corporation, calculate the marginal physical product, graph the production function and the marginal physical product on two separate graphs, then answer three questions about marginal productivity. a. Calculate the marginal physical product. Short-Run Production Function Labor input (workers per day) 0 1 2 3 4 5 6 7 8 Output (pairs of jeans per day) 0 10 36 56 68 74 76 76 74 Marginal physical product -- 10 26 20 12...
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....
help me with this problem for class Given the following short run production schedule, find the...
help me with this problem for class
Given the following short run production schedule, find the average product of labor and the marginal product of labor. With which worker do diminishing marginal returns become evident. Units of L output 0 20 45 VOGAWNO 75 111 141 162 177 answer the questions on the basis of the following graph:
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...
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
3.) The following table shows a short-run production function for laptop computers. Use the data to determine where diminishing returns begin. (1 point) Number of Workers Total Output of Computers 40 100 1501 00 v auAWNHO 180 200 205 200 190
Question 11 Production in the Short Run Labor Total Product UAWNO Reference: Ref 741 worker (Table) According to the table, diminishing returns occur when hiring __ A. the first B. the third C. the fourth D. the second
help me with this problem for class
Given the following short run production schedule, find the average product of labor and the marginal product of labor. With which worker do diminishing marginal returns become evident. Units of L output 0 20 45 VOGAWNO 75 111 141 162 177 answer the questions on the basis of the following graph:
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...
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