Homework Answers
Answer:
The marginal product of the first worker is 4 yards
The marginal product of the second worker is 5 yards (i.e. 9 - 4 = 5)
Last, the marginal product of the third worker is 7 yards (i.e. 16 - 9 = 7)
The marginal product of labor potentially increases (from one to three workers) due to division of labor
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Suppose Charles owns a lawn-mowing company. Assume that without workers, no yards are mowed. When he...
The marginal product of the first is 4 the 2: 6 the3:6 % Concept: Marginal Product...
The marginal product of the first is 4
the 2: 6
the3:6
% Concept: Marginal Product of Labor 1 Question Help Suppose Charles owns a lawn mowing company. Assume that without workers, noyards are mowed. When he is one worker, he is able to mow 4 yards per day with two workers, he can mow 10 yards per day, and with three workers, he can mow 16 yards per day The marginal product of the first worker is 4 yards...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $8,000, buys gasoline ($1.60 in gas is required to mow each yard), and pays a helper $25.00 per yard. Prior to opening the lawn company, Charles earned $3,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 5 percent per year in the bank and that the mowing equipment depreciates at...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline ($1.70 in gas is required to mow each yard), and pays a helper $25.00 per yard. Prior to opening the lawn company, Charles earned $6,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 2 percent per year in the bank and that the mowing equipment depreciates at...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline ($2.40 in gas is required to mow each yard), and pays a helper $10.00 per yard. Prior to opening the lawn company, Charles earned $6,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 3 percent per year in the bank and that the mowing equipment depreciates at...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $6,000, buys gasoline ($1.50 in gas is required to mow each yard), and pays a helper $20.00 per yard. Prior to opening the lawn company, Charles earned $5,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 1 percent per year in the bank and that the mowing equipment depreciates at...
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...
Attempts: Average:5 4. Problems and Applications Q4 An economy consists of three workers: Charles, Gilberto, and...
Attempts: Average:5 4. Problems and Applications Q4 An economy consists of three workers: Charles, Gilberto, and Lorenzo. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Charles can either mow 1 lawn or wash 1 car; Gilberto can either mow 1 lawn or wash 2 cars; and Lorenzo can either mow 2 lawns or wash 1 car, For each of the scenarios listed in the following table, determine how many...
Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the...
Jason Rogers works full-time for UPS and runs a lawn-mowing service part-time after work during the warm months of April through October. Jason has four men working with him, each of whom is paid $5.00 per lawn mowing. Jason has 25 residential customers who contract with him for once-weekly lawn mowing during the months of May through September, and twice-per-month mowings during April and October. On average, Jason charges $42 per lawn mowed. Recently, LStar Property Management Services asked Jason...
4. Problems and Applications Q4 An economy consists of three workers: Rajiv, Yakov, and Charles. Each...
4. Problems and Applications Q4 An economy consists of three workers: Rajiv, Yakov, and Charles. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Rajiv can either mow 2 lawns or wash 1 car; Yakov can either mow 1 lawn or wash 1 car; and Charles can either mow 1 lawn or wash 2 cars. For each of the scenarios listed in the following table, determine how many lawns will...
Number of law mowed per day Number of employees Figure 8.1 36) Refer to Figure 8.1....
Number of law mowed per day Number of employees Figure 8.1 36) Refer to Figure 8.1. The marginal product of the second worker is A) 4 B) 5 0955 Lawn mowed D) 11 Number of Workers) Total Output Table 8.3 37) Refer to Table 8.3. If the firm hires even workers, then A) marginal product is less than one. B) marginal product is negative. total product is negative. D) marginal product is equal to three 38) Refer to Table 8.3....
The marginal product of the first is 4
the 2: 6
the3:6
% Concept: Marginal Product of Labor 1 Question Help Suppose Charles owns a lawn mowing company. Assume that without workers, noyards are mowed. When he is one worker, he is able to mow 4 yards per day with two workers, he can mow 10 yards per day, and with three workers, he can mow 16 yards per day The marginal product of the first worker is 4 yards...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $8,000, buys gasoline ($1.60 in gas is required to mow each yard), and pays a helper $25.00 per yard. Prior to opening the lawn company, Charles earned $3,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 5 percent per year in the bank and that the mowing equipment depreciates at...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline ($1.70 in gas is required to mow each yard), and pays a helper $25.00 per yard. Prior to opening the lawn company, Charles earned $6,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 2 percent per year in the bank and that the mowing equipment depreciates at...
Charles has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline ($2.40 in gas is required to mow each yard), and pays a helper $10.00 per yard. Prior to opening the lawn company, Charles earned $6,000 as a lifeguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equipment could otherwise have earned 3 percent per year in the bank and that the mowing equipment depreciates at...
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...
Attempts: Average:5 4. Problems and Applications Q4 An economy consists of three workers: Charles, Gilberto, and Lorenzo. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Charles can either mow 1 lawn or wash 1 car; Gilberto can either mow 1 lawn or wash 2 cars; and Lorenzo can either mow 2 lawns or wash 1 car, For each of the scenarios listed in the following table, determine how many...
4. Problems and Applications Q4 An economy consists of three workers: Rajiv, Yakov, and Charles. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Rajiv can either mow 2 lawns or wash 1 car; Yakov can either mow 1 lawn or wash 1 car; and Charles can either mow 1 lawn or wash 2 cars. For each of the scenarios listed in the following table, determine how many lawns will...
Number of law mowed per day Number of employees Figure 8.1 36) Refer to Figure 8.1. The marginal product of the second worker is A) 4 B) 5 0955 Lawn mowed D) 11 Number of Workers) Total Output Table 8.3 37) Refer to Table 8.3. If the firm hires even workers, then A) marginal product is less than one. B) marginal product is negative. total product is negative. D) marginal product is equal to three 38) Refer to Table 8.3....
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