Homework Answers
Option 4 is the correct answer.
The Marginal product of the third worker is 9.
The marginal product of a particular input is the rise in the total output from a one unit rise in variable input.
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The first second, and third workers employed by a firm add 24, 18, and 9 units...
The first second, and third workers employed by a firm add 25, 18, and 10 units...
The first second, and third workers employed by a firm add 25, 18, and 10 units to total product, respectively. On the basis of this information, we can say that: the total product of the three workers is 9 the average product of the three workers is 3 the law of diminishing marginal returns is not evident in this example the marginal product of the third worker is 8 the law of diminishing marginal returns starts with the addition of...
Quiz Instructions Question 32 5 pts If output is 20 when two workers are employed and...
Quiz Instructions Question 32 5 pts If output is 20 when two workers are employed and 27 when three workers are employed, then: all of the above are true. the marginal product of the third worker is 7 units of output. average product is 9 when three workers are employed, for the third worker, marginal product is less than average product. • Previous Next
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker i...
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and the each worker repairs, on average, 4 T.V. sets per day when nine workers are hired average product must be rising because the marginal product of the tenth worker 6. total number of repaired T.V. sets increases to 39, then: a. the marginal product of the tenth worker is 3.9 T.V, sets b. is greater than...
Suppose a firm produces hardware that plays video games using workers according to the table below....
Suppose a firm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $250 per unit. Workers Output 56 84 98 105 107 Is the firm experiencing the effects predicted by the law of diminishing returns? The firm experiencing diminishing returns. What is the marginal revenue product of the fourth worker? The fourth worker's marginal revenue product is $ . (Enter your response as an integer.)
Score: 2 of 4 pts 6 of 10 (9 complete) % Concept: MRP of Labor 2...
Score: 2 of 4 pts 6 of 10 (9 complete) % Concept: MRP of Labor 2 Suppose a firm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $100 per unit. Workers Output 0 40 60 70 75 77 5 Is the firm experiencing the effects predicted by the law of diminishing returns? The firm is experiencing diminishing returns What is the marginal revenue product of the third worker?...
Can you answer these questions? 11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price ris...
Can you answer these questions?
11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price rises. B. more of Y only if its price rises. C. more of Y and less of X. D. more of X and less of Y 12. In purchasing products A and B, a consumer is in equilibrium when: 13. The diamond-water paradox atises because: A. essential...
15. Where does diminishing marginal product begin? Workers Total Product A. after first worker buite color...
15. Where does diminishing marginal product begin? Workers Total Product A. after first worker buite color B. after second worker C. after third worker ingen soro D. after fourth worker or nobod
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of...
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of output at a price of $2 per unit. If ABC 1. Corporation's explicit cost to produce the 2,000 is $1,500 and its implicit cost to produce the 2,000 units is $2,000, then ABC Corp. has total revenue of accounting profit of ,and an economic profit of an $1,500; $0; $1,000 $4,000; $1,000; $0 $4,000; $500; $2,500 $4,000; $2,500; $500 a. b. с....
Mattera's Landscaping Services, Inc. has the following production possibilities. With one, two, three, and four workers,...
Mattera's Landscaping Services, Inc. has the following production possibilities. With one, two, three, and four workers, the company can mow 4, 9, 12, and 14 lawns per day, respectively. Diminishing returns to labor set in with the ________ worker. a. first b. second c. fourth d. third
Scenario In this scenario we are going to assume that a factory produces links that are...
Scenario In this scenario we are going to assume that a factory produces links that are used to make a paperchain. A link is a strip of paper approximately 5 ½” X 1 ¼” cut from an 8 ½” X 11” sheet of paper. The strip is then wrapped into a circle and taped to form a ring. The next strip is cut, placed through the previously made ring and taped to interconnect the 2 paper rings to form the...
The first second, and third workers employed by a firm add 25, 18, and 10 units to total product, respectively. On the basis of this information, we can say that: the total product of the three workers is 9 the average product of the three workers is 3 the law of diminishing marginal returns is not evident in this example the marginal product of the third worker is 8 the law of diminishing marginal returns starts with the addition of...
Quiz Instructions Question 32 5 pts If output is 20 when two workers are employed and 27 when three workers are employed, then: all of the above are true. the marginal product of the third worker is 7 units of output. average product is 9 when three workers are employed, for the third worker, marginal product is less than average product. • Previous Next
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and the each worker repairs, on average, 4 T.V. sets per day when nine workers are hired average product must be rising because the marginal product of the tenth worker 6. total number of repaired T.V. sets increases to 39, then: a. the marginal product of the tenth worker is 3.9 T.V, sets b. is greater than...
Suppose a firm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $250 per unit. Workers Output 56 84 98 105 107 Is the firm experiencing the effects predicted by the law of diminishing returns? The firm experiencing diminishing returns. What is the marginal revenue product of the fourth worker? The fourth worker's marginal revenue product is $ . (Enter your response as an integer.)
Score: 2 of 4 pts 6 of 10 (9 complete) % Concept: MRP of Labor 2 Suppose a firm produces hardware that plays video games using workers according to the table below. Suppose also that its output sells for $100 per unit. Workers Output 0 40 60 70 75 77 5 Is the firm experiencing the effects predicted by the law of diminishing returns? The firm is experiencing diminishing returns What is the marginal revenue product of the third worker?...
Can you answer these questions?
11. Suppose that MUr/Pr exceeds MUyl/Py. To maximize utility the consumer who is spending all her money income should buy A. less of X only if its price rises. B. more of Y only if its price rises. C. more of Y and less of X. D. more of X and less of Y 12. In purchasing products A and B, a consumer is in equilibrium when: 13. The diamond-water paradox atises because: A. essential...
15. Where does diminishing marginal product begin? Workers Total Product A. after first worker buite color B. after second worker C. after third worker ingen soro D. after fourth worker or nobod
NAME PRINT LAST NAME, FIRST NAME SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation sold 2,000 units of output at a price of $2 per unit. If ABC 1. Corporation's explicit cost to produce the 2,000 is $1,500 and its implicit cost to produce the 2,000 units is $2,000, then ABC Corp. has total revenue of accounting profit of ,and an economic profit of an $1,500; $0; $1,000 $4,000; $1,000; $0 $4,000; $500; $2,500 $4,000; $2,500; $500 a. b. с....
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