MP of the 5th worker = 48-40 = 8
Ap of the 4th worker = 40/4 =10
AP of the 5th worker = 48/5 = 9.6
All of the above are true
option(D)
If total output is 40 units when 4 workers are employed and 48 units when 5 workers are employed, then: a average p...
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....
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
Econ hw please help! _SECTION# COSTS, PROFIT, AND PRODUCTION Suppose ABC Corporation's explicit cost to the 2,000 units is $2,000 accounting profit of oration sold 2,000 units of output at a price of $2 per unit. If ABC licit cost to produce the 2,000 is $1,500 and its implicit cost to produce S $2,000, then ABC Corp. has total revenue of , and an economic profit of van $1,500; $0; $1,000 $4,000; $1,000; $0 $4.000; $500; $2,500 $4,000; $2,500; $500...
Question 5 1 pts One would expect to observe diminishing marginal product of labor when O union workers are told to reduce their work effort in preparation for a new round of collective bargaining talks. O workers are discouraged about the lack of help from other workers. O crowded office space reduces the productivity of new workers. O only new workers are trained in using the most productive capital. Question 6 1 pts Diminishing marginal product suggests that the marginal...
Use the following to answer questions # 3-4 Number of workers Total Units of output 40 90 126 150 145 3. Refer to the table above. The marginal product of the fourth worker is rker is A) 150 B] 126. C] 24 [D]-24 4. Refer to the table above. The total output is maximized with _workers Aj 5 [C) 3. [D] 2
Using the table at right, the total product and average product when 3 workers are employed are Average Physical Marginal or Output Product Product O A. 37 and 27, respectively 0 B, 40 and 10, respectively. O c. 36 and 12, respectively. OD. 39 and 13, respectively 10 12 15 52
Table 13-1 Number of Workers Total Output Marginal Product 140 6. Refer to Table 13-1. What is total output when 2 workers are hired? a. 15 b. 45 c. 75 d. 120 et de 7. Refer to Figure 13-2. If the figure represented production at a cookie factory, the factory would be experiencing a. diminishing marginal product of workers b. diminishing marginal cost of cookie production c. decreasing cost of cookie production d. decreasing output of cookies. Wose Jan started...
Question 1 1 pts Labor Total product Marginal (workers per day) (units per day) product 2 8 12 3 5 In the above table, the marginal product of the second worker is 3 5 Oo oo Question 2 1 pts Labor Total product |(workers per day) (units per day) 0 0 2 Marginal product 0 2 8 3 12 T In the above table, the total product that can be produced with four workers is O 16 Ο Ο Ο...
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...
Please solve the above sum (c) ()The average product of labour when three workers farm an acre of land is 150 bushels of wheat and the marginal product. when fourth worker is employed. is 75 bushels. What is the total output with four workers? (i) What is the minimum efficient scale of production in long-run average cost? (i) Determine whether the following production functions exhibit increasing, decreasing or constant returns to scale: Q = 300K + 25L 2+2+2 (c) ()The...