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.
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please answer both
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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
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C.
Draw a diagram of the...
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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...
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Computing the marginal product of labor
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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!
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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
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