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- Retune to Table 7.2. In the top half of the table, at what point does diminishing marginal productivity kick in? What about in the bottom half of the table? How do you explain this?P232,P5) Hey! Need help with the following macro question, thank you in advance! (chart attatched below) Suppose Die Cast Aluminum Co. is a subcontractor for the auto industry and makes specialized auto parts. There is a bracket it manufactures that it sells for $1.50. The following table shows the number of brackets that can be produced from a given number of labor hours. Assume that the company cannot hire labor for a fraction of an hour. Find the marginal product (in brackets), and the value of the marginal product (in dollars), of each hour of labor. If the wage paid to workers in Die Cast’s plant is $25 per hour, how many hours of labor should the firm employ? How many hours will be employed if the wage increases to $35 per hour? Explain. How many hours will be employed if the wage is $35 per hour, but the price of a bracket declines to $1?Q5. A bicycle manufacturer in China currently employs 40 production workers and five supervisors and produces . The marginal product of the last production worker employed is 60 units of output per hour, and production workers are paid 50 CNY per hour. The marginal product of the last supervisor employed is 120 units of output per hour, and supervisors are paid 80 CNY per hour. i. If the firm produced 2,100 bicycles per month before the last production worker was hired, how many bicycles does it produce now? ii. Assume that the firm's isoquants are smooth curves and that labor hours can be varied continuously. Is the firm producing the maximum level of bicycles given its current level of cost? Explain why or why not. If it isn't, explain what it should do to increase output.
- Q3: what is the relationship between the marginal costs and the marginal product of a factor of production? Explain and graphically illustrate the typical course for these two sizes.40.) What was one negative consequence of the development of factories? a. People migrated to cities for factory jobs b. the first textile factory was built in England c. Diseases spread quickly through cramped factory neighborhoodsWhat is technology? Part 2 Technology is Part 3 A. the additional output a firm produces as a result of hiring one more input. B. a change in the ability of the firm to produce a given level of output with a given quantity of inputs. C. the rate of economic depreciation. D. the processes a firm uses to turn inputs into outputs of goods and services. E. the highest-valued alternative that must be given up to engage in an activity.
- Question 2You have been employed as the chief economist for the economy UWI Land. The head statistician has provided you with the following information:Compensation of Employees900Corporate profits 400Factor income paid to the world 325Factor Income received from the world170Indirect taxes 775Subsidies 125Depreciation 120Consumption of goods 850Net interest 75Rent Income 125Consumption of services 475Residential investments 350Non-residential investments525Government Expenditure 925Imports 700Exports 300Proprietor’s income 300Calculate UWI Land’s GDP using the Income and Expenditure ApproachQuestion In the short run, a firm operates a factory which it leases for $2000 per annum. To increase output, the firm employs increasing amounts of labour at a wage rate of $500 per worker. The table below shows the relationship between the amount of labour employed and the amount of output produced in the factory. Labour Output (TPPP) APP MMP VC FC TC ATC MC 0 0 ____ ___ 0 _ _ 1 15 2 50 3 80 4 100 5 110 6 115 1. Plot the APP and MPP curves on the same graph 2. Plot the ATC and MC curves on the same graphI need help with econ multiple hw questions asap! 48) Let L represent the number of workers hired by a firm and let Q represent that firm’s quantity of output. Assume two points on the firm’s production function are (L = 12, Q = 122) and (L = 13, Q = 132). What is the marginal product of the 13th worker? A. 122 units of output B. 10 units of output C. 8 units of output D. 130 units of output 47)
- PLEASE ANSWER ONLY QUESTION C AND D. In the short run, a firm operates a factory which it leases for $2000 per annum. To increase output, the firm employs increasing amounts of labour at a wage rate of $500 per worker. The table below shows the relationship between the amount of labour employed and the amount of output produced in the factory. Labour Output (TPPP) APP MMP VC FC TC ATC MC 0 0 ____ ___ 0 _ _ 1 15 2 50 3 80 4 100 5 110 6 115 Using the information provided, calculate the following: APP MPP VC FC TC ATC MC a.Plot the APP and MPP curves on the same graph b.Plot the ATC and MC curves on the same graph c.With the aid of a diagram, explain the relationship between ‘marginal cost’ and…Suppose Firm A and Firm B sell their output in the same output market, purchase inputs in the sameinput markets and use the same production technology. The only difference between the two firms isthat Firm A hires only women and Firm B hires only men. That is: WF(1+ dA) < WM and WF(1+ dB)>WM* Which firm will earn a higher profit?A. Firm A will earn a higher profit.B. Firm B will earn a higher profit.C. Both firms will earn the same profit.D. Their relative profit cannot be determined.Explain to your elderly relative, who is wondering what is the global marketplace that they keep hearing about. They have also heard about "mancession", "she-economy" and the "circular economy". They are surprised by these terms and also very puzzled. Explain to them your understanding of "mancession" the "she-economy" and the "circular economy". How are these impacting or driving business in the global marketplace or not?