Homework Answers
| Numbers of workers | marginal product | Total product | Average product |
| 1 | 12 | 12 | 12 |
| 2 | 16 | 28 | 14 |
| 3 | 14 | 42 | 14 |
| 4 | 13 | 55 | 13.75 |
| 5 | 10 | 65 | 13 |
Total product is the sum of marginal product.
(b) Diminishing returns occurs when marginal product start falling as the number of workers increases.;
Hence, it starts with 3rd unit of worker.
(c)
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Question #1 Use the following table for this question. Number of Workers Marginal Product Total Product...
iruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing Question...
iruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing Question 1 Use the following table for this question. Number of Workers Marginal Product 12 2 16 14 Total Product Average Product 10 a. Fill out the columns of the Table b. With which worker do diminishing returns occur? c. Graph the marginal and average product curves. Product 0 1 2 3 4 5 6 L
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
Question 41 Identify the range of diminishing marginal returns on the graph. Marginal Product Marginal and...
Question 41 Identify the range of diminishing marginal returns on the graph. Marginal Product Marginal and Average Product Average Product Margin - Q1 Q2 Units of Labor 0Q3. O Q1Q2. O 0Q2. O Q1Q3 Question 42 Use the output data below to answer the question. Assume that all non-labor resources are fixed. Based on the data, diminishing marginal returns start with the hiring of the: Number of Workers Units of Output 0 30 70 120 160 180 190 fourth worker....
5. Total, average, and marginal product Underground Sandwiches, a sandwich shop, has the following marginal product...
5. Total, average, and marginal product Underground Sandwiches, a sandwich shop, has the following marginal product curve (labeled MP) for its daily production. 20 a 18 Average Product 16 14 O 12 MP QUANTITY OF LABOR (Workers) Use the MP curve to fill in the Total Product column in the following table. Total Product Average Product (Sandwiches per worker) Workers (Sandwiches per hour) 3 4 In the previous table, fill in the Average Product column. Then, on the previous graph,...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
Question 3, a and b. For a: complete the table by calculating the marginal product. For...
Question 3, a and b.
For a: complete the table by calculating the marginal
product.
For b: construct 2 graphs: the total output curve and the
marginal product curve. Identify at what point the law of
diminishing marginal returns becomes evident.
You VVU UUDI 3. a. Construct the marginal product schedule for the production function data in the fol- lowing table. Total Output 0 Marginal Product Labor 9 82 1080 FUNDAMENTALS b. Graph the total output and marginal prod- uct...
Number of Workers Mushrooms per Day (pounds) 1 12 2 30 3 45 4 50 5...
Number of Workers Mushrooms per Day (pounds) 1 12 2 30 3 45 4 50 5 54 6 56 The table above shows the technology of production at the Matsuko's Mushroom Farm for the month of May. a. What is the marginal product of the 4th worker? What is the average product of labor when the farm hires 5 workers? Diminishing marginal returns sets in when the ________ worker is hired.
Answer the question on the basis of the following information: Number of Total Marginal Workers Product...
Answer the question on the basis of the following information: Number of Total Marginal Workers Product Product 0 8 0 8 10 2 3 4 5 6 25 30 3 34 Refer to the data. The marginal product of the fourth worker:
Number of Total Marginal Workers Output Product 300 500 600 650 4 1) Refer to the...
Number of Total Marginal Workers Output Product 300 500 600 650 4 1) Refer to the above table. Fill in the final column (4 points). 2) Refer to the above table. At which number of workers does diminishing marginal product begin? (3 points) A. 2 B. 1 C. 3 D. 4
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...
iruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing Question 1 Use the following table for this question. Number of Workers Marginal Product 12 2 16 14 Total Product Average Product 10 a. Fill out the columns of the Table b. With which worker do diminishing returns occur? c. Graph the marginal and average product curves. Product 0 1 2 3 4 5 6 L
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
Question 41 Identify the range of diminishing marginal returns on the graph. Marginal Product Marginal and Average Product Average Product Margin - Q1 Q2 Units of Labor 0Q3. O Q1Q2. O 0Q2. O Q1Q3 Question 42 Use the output data below to answer the question. Assume that all non-labor resources are fixed. Based on the data, diminishing marginal returns start with the hiring of the: Number of Workers Units of Output 0 30 70 120 160 180 190 fourth worker....
5. Total, average, and marginal product Underground Sandwiches, a sandwich shop, has the following marginal product curve (labeled MP) for its daily production. 20 a 18 Average Product 16 14 O 12 MP QUANTITY OF LABOR (Workers) Use the MP curve to fill in the Total Product column in the following table. Total Product Average Product (Sandwiches per worker) Workers (Sandwiches per hour) 3 4 In the previous table, fill in the Average Product column. Then, on the previous graph,...
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
Question 3, a and b.
For a: complete the table by calculating the marginal
product.
For b: construct 2 graphs: the total output curve and the
marginal product curve. Identify at what point the law of
diminishing marginal returns becomes evident.
You VVU UUDI 3. a. Construct the marginal product schedule for the production function data in the fol- lowing table. Total Output 0 Marginal Product Labor 9 82 1080 FUNDAMENTALS b. Graph the total output and marginal prod- uct...
Answer the question on the basis of the following information: Number of Total Marginal Workers Product Product 0 8 0 8 10 2 3 4 5 6 25 30 3 34 Refer to the data. The marginal product of the fourth worker:
Number of Total Marginal Workers Output Product 300 500 600 650 4 1) Refer to the above table. Fill in the final column (4 points). 2) Refer to the above table. At which number of workers does diminishing marginal product begin? (3 points) A. 2 B. 1 C. 3 D. 4
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...
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