20) Diminishing marginal productivity of capital is exhibited by A) decreasing output per capital over time...
20) Diminishing marginal productivity of capital is exhibited by
A) decreasing output per capital over time
B) decreases in the change in output to the change in capital
C) increasing output
D) none of the above
Homework Answers
20.Diminishing marginal productivity of capital is exhibited by decreases in the change in output to the change in capital , which means total production increases by a diminishing rate as capital increases. Hence, option(B) is correct.
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20) Diminishing marginal productivity of capital is exhibited
by
A) decreasing output per capital over time...
Diminishing marginal productivity a. means that adding one more unit of the variable input will reduce...
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...
28) The law of diminishing returns, as it applies to labor, means that A) the marginal...
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
‘Increasing capital per labour increases output at a decreasing rate’ refers to the idea of a.economic...
‘Increasing capital per labour increases output at a decreasing rate’ refers to the idea of a.economic development. b. diminishing returns. c.accumulation of labour. d.none of the statements above are correct.
For a production function with a diminishing, but positive, marginal product of labor: A. Output increases...
For a production function with a diminishing, but positive, marginal product of labor: A. Output increases at an increasing rate as more workers are employed B. Output increases at a decreasing rate as more workers are employed. C. Output declines as more workers are employed. D. The effects on marginal product are unknown.
Diminishing marginal returns implies that O A. marginal product is constant. O B. marginal product is decreasing. O C....
Diminishing marginal returns implies that O A. marginal product is constant. O B. marginal product is decreasing. O C. marginal product is increasing. OD. marginal product may be increasing or decreasing.
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation...
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation rate: 8 = 0.4 Saving rate: s = 0.2 Evolution of capital per worker: kt+1- kt = syt - Skt In the steady state, capital per worker does not change over time Let k* denote the steady state level of capital per worker Question 1.In the steady state, capital per worker is a)8 b)4 c)2 d)1 Question 2.Which one of the following statements is...
Diminishing marginal productivity in a skateboard company means that: Question 3 options: hiring additional workers causes...
Diminishing marginal productivity in a skateboard company means that: Question 3 options: hiring additional workers causes the total output of skateboards to fall. hiring additional workers does not change the total output of skateboards produced. hiring additional workers adds fewer and fewer skateboards to total output. the average total cost of production must be decreasing.
blank 1-diminishing or increasing 2-decreasing or increasing 5. The relationship between marginal product and marginal cost...
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
Which of the following is a long-run concept? A. Diminishing marginal productivity. B. Diminishing returns. C....
Which of the following is a long-run concept? A. Diminishing marginal productivity. B. Diminishing returns. C. Diseconomies of scale. D. Fixed costs.
In the Solow growth model with technological progress (and diminishing marginal returns to capital), explain the...
In the Solow growth model with technological progress (and diminishing marginal returns to capital), explain the steady-state growth rates for: a. Capital per effective worker b. Output per effective worker c. Output per worker d. Total output
28) The law of diminishing returns, as it applies to labor, means that A) the marginal product of labor will eventually be a horizontal line at zero. B) the average product of labor starts to decline before the marginal product of labor. C) total output eventually decreases. D) the average product of labor increases at a decreasing rate. E) the marginal product of labor eventually decreases as more labor is added with capital held fixed. 29) A firm's short-run labor...
Diminishing marginal returns implies that O A. marginal product is constant. O B. marginal product is decreasing. O C. marginal product is increasing. OD. marginal product may be increasing or decreasing.
Consider an economy such that Output per worker: yt = 2k0.5 Capital per worker: kt Depreciation rate: 8 = 0.4 Saving rate: s = 0.2 Evolution of capital per worker: kt+1- kt = syt - Skt In the steady state, capital per worker does not change over time Let k* denote the steady state level of capital per worker Question 1.In the steady state, capital per worker is a)8 b)4 c)2 d)1 Question 2.Which one of the following statements is...
blank 1-diminishing or increasing
2-decreasing or increasing
5. The relationship between marginal product and marginal cost Musashil's Big Burger is a small restaurant that sells hamburgers. For Musashi, grills are a fixed input and workers are variable inputs. Assume that labor is Musashi's only variable cost. Musashi has a fixed cost of $50 per day and pays each of his workers $50 per day. Musashi's total output schedule and total cost at each level of labor are presented in the...
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