at the least cost of combination inputs, what can be said about the marginal productivity of inputs
a)they are the same
b)they are the same when they are adjusted to the cost of the input
c)the cheaper of the input has the highest marginal productivity
d)nothing
at the least cost of combination inputs, what can be said about the marginal productivity of...
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm? Select one: O a. It should increase the level of production to maximize its profit. O b. It must be experiencing losses. O c. It is most likely to be at a profit-maximizing level of output. O d. It may still be earning a profit.
Productivity Measurement, Technical and Allocative Efficiency, Partial Measures Carsen Company produces handcrafted pottery that uses two inputs: materials and labor. During the past quarter, 20,000 units were produced, requiring 80,000 pounds of materials and 40,000 hours of labor. An engineering efficiency study commissioned by the local university revealed that Carsen can produce the same 20.000 units of output using either of the following two combinations of Inputs: Combinations: Materials 70,000 $4,600 Labor 38,000 33,500 The cost of materials is $10...
there is no electric charge at the point P. what can be said about the electric filed at point P? a) the field is zero b) the field is positive c) the field is negative d) nothing can be said about the field
You produce 100 units of good X which requires inputs A and B. At the combination of inputs used marginal product of input A is 10, marginal product of input B is 20, price of input A is 4, and price of input B is 4. Do you minimize costs? If not, what do you need to do to minimize the cost?
Diminishing marginal productivity a. means that adding one more unit of the variable input will reduce total product. b. occurs when the marginal product curve begins to slope downward c. occurs eventually because each additional unit of the variable unit has, on average, fewer units of the fixed input with which to work. d. both a and c e. both b and c 7. The marginal rate of technical substitution is a. the rate at which the firm can substitute...
Marginal Productivity and Marginal Cost Crepes Work hours Mworkers Or the change in Work hours MC (at wage of $20/hour), inputs at $5 MPL amount that one worker would produce 1 0.05 2 0.2 3 0.45 4 0.8 5 1.25 6 1.8 7 2.45 8 3.2 9 4.05 10 5 In the short-run, how can you increase production? Fill in the table. After the first dinner, what happens to the time needed for each additional crepe? Why? What happens to the marginal...
In class A7 - Productivity and Costs (Chapter 11) 1. Calculate the Average Product and Marginal Product of the variable input Inputs No. of Average Marginal boats Product Product Labour of Draw the AP and MP curves of the variable input. Remember AP and MP are measured in units of output! Identify the max point of AP of Labour and MP of Labour (the points of diminishing returns for both curves). The diagram need not be to scale. 2. The...
Suppose a firm's average total cost curve is decreasing with output. What can be said of its marginal cost curve? The firm's marginal cost curve must be A. intersecting the average total cost curve. B. increasing with output. C. below the average total cost curve. D. decreasing with output. E. horizontal.
3. If PA)-03, P(B) 0.2, P(A and B)-a06, what can be said about events A and B ? A) They are independent. B) They are mutually exclusive. C) They are posterior probabilities. D) None of the above E) All of the above 4. "The probability of event B, given that event A has occurred" is known as a probability A) continuous B) marginal C) simple D) joint E) conditional 5. The expected value of a probability distribution is A. the...
Suppose that the following series converges when x = -4and diverges when x = 6.What can be said about the convergence or divergence of thefollowing series?(a) It_____, since theoriginal series _____whenx = _____.(b) It _____, since the original series_____ when x = _____.(c) It _____, since the original series _____when x = _____.(d) It _____, since the original series_____ when x = _____.