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
Answer is option d
Mattera's Landscaping Services, Inc. has the following production possibilities. With one, two, three, and four workers,...
Suppose Charles owns a lawn-mowing company. Assume that without workers, no yards are mowed. When he hires one worker, he is able to mow 4 yards per day. With two workers, he can mow 9 yards per day, and with three workers, he can mow 16 yards per day. The marginal product of the first worker is 4 yards per day. The marginal product of the second worker is 5 yards per day. Last, the marginal product of the third...
4. Problems and Applications Q4 An economy consists of three workers: Brian, Edison, and Kevin. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Brian can either mow 1 lawn or wash 2 cars; Edison can either mow 1 lawn or wash 1 car; and Kevin can either mow 2 lawns or wash 1 car. For each of the scenarios listed in the following table, determine how many lawns will be mowed...
4. Problems and Applications Q4 An economy consists of three workers: Bob, Eric, and Kenji. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Bob can either mow 2 lawns or wash 1 car; Eric can either mow 1 lawn or wash 1 car; and Kenji can either mow 1 lawn or wash 2 cars. For each of the scenarios listed in the following table, determine how many lawns will be mowed...
Exact coordinates, please!
Concept: Graphing Production Consider a firm that hires workers to mow lawns. The figure below shows the number of lawns mowed per day for up to four workers. 20 18- Total output 16- 14- 12- 10- 8- 6- 0- Quantity of workers 1.) Use the point drawing tool to indicate the marginal product of each worker. Properly label the points (MP1, MP2. MP3, MP4) Out put (lawns mowed per day)
1. There are three workers in a company (Van, Bondy, Larry) -in one hour Van can mow 1 lawn or wash 1 car -in one hour Bondy can mow 1 lawn or wash 2 cars -in one hour Larry can mow 2 lawns or wash 1 car In a 5 hour day the three of them together can mow a total of ____ lawns. In a 5 hour day the three of them together can wash a total of ____...
The first second, and third workers employed by a firm add 24, 18, and 9 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 9 the law of diminishing marginal returns becomes evident with the addition...
An economy consists of three workers: Tim, Brian, and Edison. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Tim can either mow 1 lawn or wash 1 car; Brian can either mow 1 lawn or wash 2 cars; and Edison can either mow 2 lawns or wash 1 car. For each of the scenarios listed in the following table, determine how many lawns will be mowed and how many...
4. Problems and Applications Q4 An economy consists of three workers: Carlos, Felix, and Larry. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Carlos can either mow 2 lawns or wash 1 car; Felix can either mow 1 lawn or wash 1 car; and Larry can either mow 1 lawn or wash2 cars. For each of the scenarios listed in the following table, determine how many lawns will be...
4. Problems and Applications Q4 An economy consists of three workers: Dmitri, Jake, and Nick. Each works 10 hours a day and can produce two services: mowing lawns and washing cars. In an hour, Dmitri can either mow 1 lawn or wash 2 cars: Jake can either mow 1 lawn or wash 1 car; and Nick can either mow 2 awns or wash 1 car. For each of the scenarios listed in the following table, determine how many lawns will...
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...