please answer bothHomework Answers
Marginal product of labor is defined as the additional product produced by an additional unit of labor.
MPL=dTPL/dL
The declining marginal product of labor, means that additional output produced by additional worker is decreasing. It may happens due to tiredness of workers after working long hours.
Hence option c is the correct answer.
14.
Since due to the change in the technology makes labor more productive. This will increase the marginal product of labor.
Hence it can be said that improvement in productive technology that raise the marginal product of labor will cause a perfectly firm’s short-run labor demand curve to shifts right. This is because marginal product of labor is increasing.
Hence option A is the correct answer.
Add Answer to:
please answer both
Declining marginal product of labor O A. is needed if competitive firms are...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as long as the marginal product of labor is positive. the amount of labor needed to produce the profit-maximizing the amount of labor needed to produce the revenue-max the number of workers they can afford given a fixed budget. ce the profit-maximizing level of output. produce the revenue-maximizing level of output. Ceteris paribus, the value of the marginal product of labor (demand for labor by...
1)The marginal product of labor is equal to the A. total product divided by the total...
1)The marginal product of labor is equal to the A. total product divided by the total number of workers hired. B. increase in the total product that results from hiring one more worker. C. slope of the marginal product of labor curve. D. None of the above answers are correct. 2) The marginal product of labor is the increase in total product from a A. one dollar increase in the wage rate, while holding the price of capital constant. B....
Question 55 1 pts If the value of the marginal product of labor exceeds the wage,...
Question 55 1 pts If the value of the marginal product of labor exceeds the wage, then the firm could increase profit by hiring additional labor. increase profit by reducing the amount of labor hired. increase revenue by lowering output. O reduce total cost by hiring additional workers. Question 56 1 pts Diminishing marginal product suggests that
7. If marginal product of labor is increasing as more labor is hired, that implies average...
7. If marginal product of labor is increasing as more labor is hired, that implies average product o labor is_(Only circle the correct answer) a) Increasing. b) Decreasing c) Maximurm d) Any of the above. e) None of above Only 8. If marginal cost is increasing as more quantity is produced, average cost is circle the correct answer) a) Increasing. b) Decreasing c) Minimum d) Any of the above. e) None of above
Leadbelly Co. Sells pencils in a perfectly competitive product market and hires in a perfectly competitive...
Leadbelly Co. Sells pencils in a perfectly competitive product
market and hires in a perfectly competitive labor market. assume
that the market wage rate for workers is $150 per day.
A.
What rule should Leadbelly follow to hire the profit-maximizing
amount of labor?
B.
At the profit-maximizing level of output, the marginal product of
the last work or hired is 30 boxes of pencils per day. Calculate
the Price of a box of pencils.
C.
Draw a diagram of the...
A contestable market is similar to a perfectly competitive market in that there O A. are...
A contestable market is similar to a perfectly competitive market in that there O A. are barriers to entry. OB. are no barriers to entry. O c. is a perfectly elastic demand. OD. will be no entry if the existing firm makes an economic profit. O E. can be only one firm in the market. The Competition Act distinguishes between business practices that are criminal and noncriminal. Which of the following is noncriminal? O A. false advertising O B. refusal...
Computing the marginal product of labor im really looking for the first multiple choice question and...
Computing the marginal product of labor
im really looking for the first multiple choice question and the
last T or F question. the first question is either B or C..i dont
know how to figure out how many extra lawns/worker thanks!
Suppose that Simone runs her own lawn care service and that her firm is competitive in the lawn care industry. She has a fixed number of tools that can be used to maintain a yard, but she needs to...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to red...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal...
Cabinets question Diminishing marginal returns occur when: O total product decreases. O each additional unit of...
Cabinets question
Diminishing marginal returns occur when: O total product decreases. O each additional unit of a variable factor adds more to total output than the previous unit. the marginal product of a variable factor is increasing at a decreasing rate. each additional unit of a variable factor adds less to total output than the previous unit. Marginal Product of Labor of Labor Quantity of (workers) Cabinets (cabinets per worker) cost, how many workers would your firm employ? (Table: Production...
The table below shows the marginal product of labor at various employment levels. Assume this firm...
The table below shows the marginal product of labor at various employment levels. Assume this firm is a monopoly, and the marginal revenue is in the table below. Labor Marginal Product of Labor Marginal Revenue 1 10 20 2 8 14 3 7 10 4 5 8 5 3 4 6 1 2 What is the marginal revenue product of labor at each level of labor? If the firm operates in a perfectly competitive labor market where the going...
சம் VU labor markets, firms hire: additional workers as long as the marginal produ s as long as the marginal product of labor is positive. the amount of labor needed to produce the profit-maximizing the amount of labor needed to produce the revenue-max the number of workers they can afford given a fixed budget. ce the profit-maximizing level of output. produce the revenue-maximizing level of output. Ceteris paribus, the value of the marginal product of labor (demand for labor by...
Question 55 1 pts If the value of the marginal product of labor exceeds the wage, then the firm could increase profit by hiring additional labor. increase profit by reducing the amount of labor hired. increase revenue by lowering output. O reduce total cost by hiring additional workers. Question 56 1 pts Diminishing marginal product suggests that
7. If marginal product of labor is increasing as more labor is hired, that implies average product o labor is_(Only circle the correct answer) a) Increasing. b) Decreasing c) Maximurm d) Any of the above. e) None of above Only 8. If marginal cost is increasing as more quantity is produced, average cost is circle the correct answer) a) Increasing. b) Decreasing c) Minimum d) Any of the above. e) None of above
Leadbelly Co. Sells pencils in a perfectly competitive product
market and hires in a perfectly competitive labor market. assume
that the market wage rate for workers is $150 per day.
A.
What rule should Leadbelly follow to hire the profit-maximizing
amount of labor?
B.
At the profit-maximizing level of output, the marginal product of
the last work or hired is 30 boxes of pencils per day. Calculate
the Price of a box of pencils.
C.
Draw a diagram of the...
A contestable market is similar to a perfectly competitive market in that there O A. are barriers to entry. OB. are no barriers to entry. O c. is a perfectly elastic demand. OD. will be no entry if the existing firm makes an economic profit. O E. can be only one firm in the market. The Competition Act distinguishes between business practices that are criminal and noncriminal. Which of the following is noncriminal? O A. false advertising O B. refusal...
Computing the marginal product of labor
im really looking for the first multiple choice question and the
last T or F question. the first question is either B or C..i dont
know how to figure out how many extra lawns/worker thanks!
Suppose that Simone runs her own lawn care service and that her firm is competitive in the lawn care industry. She has a fixed number of tools that can be used to maintain a yard, but she needs to...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal...
Cabinets question
Diminishing marginal returns occur when: O total product decreases. O each additional unit of a variable factor adds more to total output than the previous unit. the marginal product of a variable factor is increasing at a decreasing rate. each additional unit of a variable factor adds less to total output than the previous unit. Marginal Product of Labor of Labor Quantity of (workers) Cabinets (cabinets per worker) cost, how many workers would your firm employ? (Table: Production...
Most questions answered within 3 hours.
-
Write a program that asks the user how many integers they would
like to enter. You...
asked 5 minutes ago -
Well developed answer:
In your own words describe the following key terms:
A. Nonprofit Organization, Proprietary...
asked 11 minutes ago -
Determine the sample size n needed to construct a 95%
confidence interval to estimate the population...
asked 11 minutes ago -
A generator has a
450-turn coil that is 10 cm long and 12 cm wide. The...
asked 19 minutes ago -
Can someone please explain how you get the calculations for the
shear and moment diagrams with...
asked 19 minutes ago -
- Describe the process of planning, managing, and controlling
quality in projects.
Class - A project...
asked 21 minutes ago -
1.) In order to appreciably influence the vapor pressure of a
liquid mixture a substance must...
asked 27 minutes ago -
Chapter 05, Problem 01
A car travels at a constant speed around a circular track
whose...
asked 28 minutes ago -
Which of the following quotes from a new-product adopter would
signal the need for a firm...
asked 49 minutes ago -
Why are anthropologists interested in studying exchange across
cultures?
asked 42 minutes ago -
3. You may be aware that Wal-Mart is also using RFID
technologies at their stores. Name...
asked 49 minutes ago -
What are the key benefits and limitations of a relational
DBMS?
asked 53 minutes ago