Is it possible to increase the labor productivity (output per unit of labor) in a given production process which exhibits diminishing returns to labor? If so, how? Explain with a graph

Q: 1. How do both consumers and firms benefitted from the economies of scale? 2. Large business enjoys…

A: Answer - "Thank you for submitting the questions.But, we are authorized to solve one question at a…

Q: An automobile retailer calculates that its loss on the sale of Type M cars is given by  L(50) =…

A: Answer in step 2.

Q: If the law of diminishing returns did not hold, we can produce a the food the world needs in one…

A: In economics, diminishing returns is the decrease in marginal output of a production process as the…

Q: What is relationship between MP and AP? Explain why MP first rises, then declines and ultimately…

A: The given table has been completed and the corresponding graphs of (MP and AP) have also been…

Q: what is the use of production fuction in product analysis?

A: Production analysis refers to the analysis of the process in which resources categorized as land,…

Q: In the United States, where Internet services are cheap, the ratio of capital to labor used is…

A: Money is important in day to day life. Money has been developed since the ages and currently it is…

Q: A- what is prodcution technology? and give an example for the concept. B- What is the…

A: Technology plays a crucial role in influencing production. during this context, technology…

Q: hat is the difference between technology and technological​ change?   A. Technology is the…

A: Technology refers to the processes a firm uses to turn inputs into outputs of goods and services. On…

Q: 4. Refer to Table 3-2. Assume that England and France each has 10 labor hours available. If each…

A: Given: Total hours available with each country=10 hours Production of: Cheese and Wine To find:…

Q: 2/3 With the production function Y A+KL,if we double, we get an increasing returns production. OA.…

A: Given: Yt=AtKt13Lt23where,A=Stock of ideaK=CapitalL=Labor Since A is given as stock of ideas, this…

Q: A firm hires some number of custodians to clean a large warehouse. When only a few custodians are…

A: The production function shows the relationship between inputs and output. It shows how much inputs…

Q: (a) Explain how a firm uses resource price and value data to determine the appropriate combination…

A: Production function plays an important role to determine the nature of production of a firm and…

Q: 1) The joint cost (in thousands of euros) for two products X and Y can be given by the following…

A: We will use incremental cost concepts to answer this question

Q: 3. What is true about a function that has constant returns to scale? A. That increasing just labor…

A:

Q: The information on three different technologies named as q, v and x is listed in the table below.…

A: With the use of technology, a firm can minimize its cost for production to get more profit.

Q: Define constant, decreasing and increasing returns to scale.

A: “Since you have asked multiple questions, we will solve the first question for you. If you  want any…

Q: eference to the table provided.  What is the average variable cost of producing three units of the…

A: This will be explained below:

Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…

A: d) B works only on knives, Needs 10 hours to produce knife.  Time = 20 hour

Q: 5. Production Function Question: Why don't we care about production-maximization in the context of…

A: Below are the solutions to questions 5, 6, and 7.

Q: 1.Explain how a firm uses resources price and value data to determine the appropriate combination of…

A: PART A The marginal product of labor (MPL) is the change in production that occurs when an…

Q: 6. Duane breeds parrots for a living. He has discovered that the production function for parrot…

A: Part d) Q = k1/2 l1/2 MPK = 1/2 (l1/2 k -1/2) Yes, capital obeys "the law of diminishing returns"…

Q: 12. As a result of a fire, a small business owner loses some of her computers and other equipment.…

A:

Q: 1) Suppose the production function for widgets is given by: q= KL – 0.8K² – 0.2L². a.) Suppose K=10,…

A: 1) Production Function : q=KL-0.8K2-0.2L2   a) K=10 q=(10)L-0.8(10)2-0.2L2 q=10L-80-0.2L2…

Q: 4.7 When to Use the Principle of Diminishing Returns? You are the manager of a firm that produces…

A: Return to Scale: The return to scale refers to the behavior of output when there is a change in all…

Q: Short Answer 12) Using the following table, which of the production choices (a, b, c, d, e) are…

A: Note: The last row values were not clearly visible.  Production technique o/p capital labour A…

Q: 1. Describe and provide a graphical illustration of the theory of induced technological innovation.…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: 2. A firm requires labor and capital to produce a given output. Labor costs $8 0/6 per hour and…

A: A firm will maximize profit or minimise cost at a point where marginal rate of technical…

Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…

A: The following problem has been solved as follows:

Q: 5. Given the following, complete the box and show calculations. Also draw the following graphs based…

A: Marginal Physical Product(MPP)=Change in Output(TP)/Change in Variable Input Average Fixed…

Q: please help

A: Production technologies or production function defines a relationship between the output and inputs.…

Q: why is optimal employment important in the production function

A: The production function depicts the technical association between the quantities of output (Q) that…

Q: called the set of all possible combinations two inputs that are just sufficient to produce a given…

A: Answer: Isoquant

Q: technology can exhibit constant returns to scale and diminishing marginal product to each factor.…

A: A) TRUE The law of diminishing marginal returns is a hypothesis in financial matters that predicts…

Q: According to data from the Longitudinal Survey of Companies of 2017, labor productivity in Chile is…

A: Disclaimer: Since you have asked multiple questions, we will solve the first question for you. if…

Q: Is it possible to obtain increasing returns to scale if all factors of production are subject to…

A: Returns to scale indicate the changes in output in relation to the changes in the input. The three…

Q: unds of carrots. You spent $1.50 per pound on fertilizer and used 2 pounds of fertilizer. Planting…

A: Given: Production of carrots=436 pounds Cost of fertiliser= $1.50 per pound Quantity of fertiliser=2…

Q: 5. A company that produces auto parts has a production function of Q = 300 L-75 K-5. %3D If L= 250…

A: (i) Q=300L0.75K0.5L=250K=25Now,Q=300(250)0.75(25)0.5 Q=300×62.87×5Q=94,305

Q: 1. Suppose Worker A and Worker B produce knives and forks. Worker A has to work for 2 hours to…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 3. We often work with production technologies that give rise to initially increasing marginal…

A: Production technologies or production function defines a relationship between the output and inputs.…

Q: 1. Suppose your current job pays you $300,000 a year. However, you are considering starting your own…

A: Current job salary=$300,000 Total revenue=$75,00,000 Cost of material=$27,50,000 Employees…

Q: At the moment, Marge uses 16 labour hours and 16 hair dryers. Suppose that Marge can use any amount…

A:

Q: a.Calculate the total and the average productivity from the following information. b.Plot the total…

A: A production function shows the relationship between inputs and outputs. Average product of labor is…

Q: 3. We often work with production technologies that give rise to initially increasing marginal…

A: Marginal Product:Marginal product refers to the change in output due to the change in inputs.…

Q: What are the 2 variables that the Production Function is analyzing/graphing? Why does the production…

A: The determination of production function is essential for the price theory. The theory of production…