Please use drop down to answer and drop down to choose an answer to explain why A motor vehicle assembly plant requires the use of both capital and labour. The Tesla manufacturing plant isconsidering increasing the number of workers to increase production. Does diminishing returns hold in thisscenario (YES/NO)? Explain.Does diminishing returns hold in thisChoose.scenario (YES/NO)?Choose.Explain.Total product is decreasingYesThe increase in workers has no effect as capital is unchanged.NoThe increase in workers has no effect as capital is also increased.Total product is increasingeMarginal product is decreasing for each unit.Total production will increase but at a decreasing rate.

According to the law of diminishing returns when more units of variable input are used with a fixed…

A motor vehicle assembly plant requires the use of both capital and labour. The Tesla manufacturing plant is considering increasing the number of workers to increase production. Does diminishing returns hold in this scenario (YES/NO)? Explain. Does diminishing returns hold in this scenario (YES/NO)? Choose. Choose. Explain. Total product is decreasing Yes The increase in workers has no effect as capital is unchanged. No The increase in workers has no effect as capital is also increased. Total product is increasing Marginal product is decreasing for each unit. Total production will increase but at a decreasing rate.

A motor vehicle assembly plant requires the use of both capital and labour. The Tesla manufacturing plant is considering increasing the number of workers to increase production. Does diminishing returns hold in this scenario (YES/NO)? Explain. Does diminishing returns hold in this scenario (YES/NO)? Choose. Choose. Explain. Total product is decreasing Yes The increase in workers has no effect as capital is unchanged. No The increase in workers has no effect as capital is also increased. Total product is increasing Marginal product is decreasing for each unit. Total production will increase but at a decreasing rate.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 3E

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Please no written by hand and no image Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if both capital and labor rise by 42%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).
hello, I need help with my homework 4.7 When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces memory chips for mobile phones. In your decision about how much output to produce this week, would you use the principle of diminishing returns? Explain. In your decision about how much output to produce two years from now, would you use the principle of diminishing returns? Explain. My Textbook: macroeconomics by o’Sullivan 10th addition 978 013 519 6434 thank you
Returns to scale in production: Do the following production functions exhibitincreasing, constant, or decreasing returns to scale in K and L? (Assume Ais some fxed positive number.)(a) Y = K1/2L1/2(b) Y = K2/3L2/3(c) Y = K1/3L1/2(d) Y = K + L(e) Y = K + K1/3L1/3 (f ) Y = K 1/3L2/3 + A (g) Y = K 1/3L2/3 − A
Prof. Smith and Prof. Jones are going to produce a new textbook. The production function for the book is: ?=?1/2?1/2?= is the number of pages in the finished book?= is the number of working hours spent by Smith?= is the number of working hours spent by JonesSmith's labor is valued at 3 TL per working hour and Jones's labor is valued at 12 TL per working hour. After having spent 900 hours preparing the first draft, Smith cannot contribute any more to the book. Jones will revise the Smith's draft to complete the book.a) How many hours will Jones have to spend to produce a finished book of 300 pages?b) What is the marginal cost of the 300th page of the finished book?
Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in output if both capital and labor rise by 42%? Write the answer in percent terms with up to two decimals (e.g., 10.22 for 10.22%, or 2.33 for 2.33%).
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