Homework Answers
Marginal Product is the slope of the production function. It refers to change in the total product (TP) due to change in the unit of labor units employed
As output falls. Diminishing marginal returns set in and the marginal product of capital starts falling.
It is calculated using the following formula:
MPL = Change in TP / Change in L
Let say, the Total Product of employing 5 units of labor = 15
And the Total Product of employing 6 units of labor = 10
So, MPL = (10 - 15) / (6 - 5) = (-)5
So, we see that the marginal product comes out to be negative.
So, the statement is TRUE
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Please check these questions answers if they are correct or
not.
For the following 7 True/False questions you are asked to identify instance(s) of ClassA at run time in the following code snippet: ClassA global; ClassA func(ClassA param) { ClassA local = param; ClassA *heap - new ClassA(global) ; *heap global; ClassA arr[4] local, heap }; return heap; Question 9 1 pts ClassA arr[4] = { local, *heap}; // this creates instance(s) of ClassA True O False Question 10 1...
QUESTION 33 Which of the following is true of MC when MP is increasing it is constant a. it is increasing a. it is decreasing a. It is first increasing then decreasing 2.5 points Save Answer QUESTION 34 "Suppose you run a pizza shop and currently have two employees. If you hire a third employee, your output of pizzas per day rises from 55 to 65. If you hire a fourth employee, output rises to 80 per day. A fifth...
9. Are the following statements true or false? Explain your answers. a) "Isoquants are always L-shaped." b) "A bandwagon effect is an example of negative network externality in which a consumer wishes to possess a go in part because others do." c) "The demand for washing machines is more elastic in the short run than the long run." 10.a) Complete the following table: Quantity of Variable Total Input Output Marginal Product of Variable Input Average Product of Variable Input 30...
9. Are the following statements true or false? Explain your answers. a) 'Isoquants are always L-shaped." b) 'A bandwagon effect is an example of negative network externality in which a consumer wishes to possess a good in part because others do." c) "The demand for washing machines is more elastic in the short run than the long run." 10.a) Complete the following table: Quantity Of Variable Total Input Output Marginal Product of Variable Input Average Product of Variable Input 50...
9. Are the following statements true or false? Explain your answers a) 'Isoquants are always L-shaped. b) 'A bandwagon effect is an example of negative network externality in which a consumer wishes to possess a good in part because others do. c) The demand for washing machines is more elastic in the short run than the long run. 10.a) Complete the following table: Quantity Of Marginal Product of Average Product of Variable Total Variable Variable Input Output Input Input 0...
2. Explain whether the following italicized statement is true or false. Assume that a war destroys a smaller portion of a country's capital stock relative to its labor causalities. If the saving rate is unchanged, the Solow model would predict that the immediate impact is a higher output per worker, then a positive transitional rate of growth of output per worker and, eventually that the new steady state will approach a higher output per worker than before the war. Assume...
True/False Explain. Indicate whether each of the following statements is true or false and then explain why you think this, Include in your explanation any pertinent institutional details and economic reasoning (including appropriate graphs and equations). a. Suppose you are interested in estimating the elasticity of demand for medical care. A good way to do this would be to compare the quantity demanded by people with insurance to the quantity demanded by people who chose not to buy insurance, and...
Please check these questions answers if they are correct or
not.
For the following 7 True/False questions you are asked to identify instance(s) of ClassA at run time in the following code snippet: ClassA global; ClassA func(ClassA param) { ClassA local = param; ClassA *heap - new ClassA(global) ; *heap global; ClassA arr[4] local, heap }; return heap; Question 9 1 pts ClassA arr[4] = { local, *heap}; // this creates instance(s) of ClassA True O False Question 10 1...
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