Period Y K L Share of Labor in Output 1 100 200 100 0.5 1 106 205 102 0.5 3 111 210 104 0.5 4 110.5 215 104 0.5 5 110 220 104 0.5 Assuming A = 1 in the first period, the value of A in period 5 is: 1.0375 1.0293 1.046 1.0636
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- One of the common complaints of special educationteachers is that they are not allowed to teach because of all thepaperwork they are required to fill out and keep current. They onceonly had to teach, but now they have so many other duties that theydon’t feel they are doing anything well. In this case, ____ did notproduce satisfied workers. job specialization job rotation job enrichment job enlargement a narrow span ofmanagementJuztine Company produces a single type of necklace being sold for P 25 per unit. The following information was made available:Unit sales (P 25 per unit) 63,000 Material usage 75,000 pounds Material cost P7.2 per pounds Labor hours 10,000 hours Labor cost P30 per hourWhat is the financial partial productivity of Direct Labor?Consider the augmented production function Y equals A K to the power of 1 divided by 3 end exponent open parentheses H N close parentheses to the power of 2 divided by 3 end exponent, where Y is output, A is total factor productivity, K is capital, N is the number of workers, and H is average years of education. Suppose that A=2, K=8, and N=1000. What is the average product of labor (or output per worker) if H is 15.7?
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- Suppose that 15 states decrease the length of the standard work week from 40 to 35 hours. You are interested in the effects of this change on worker productivity. What effects might you expect to see? How would you conduct a difference-in-difference analysis to estimate the impact? What assumption must hold for the difference-in-difference analysis to be valid?Describe internal and external managerial labor markets. What are the merits of internal managerial labor market versus external?If output is produced according to Q = ( KL) 3/4, then this production process exhibits: a.first decreasing and then increasing returns to scale b.first increasing and then decreasing returns to scale c.increasing returns to scale d.decreasing returns to scale e.constant returns to scale Hedge Fun is a landscaping firm that specializes in topiary. Last year, the firm had 60 employees and served 120 customers. This year, it had 70 employees and served 140 customers. The average product of labor is at a maximum when the number of customers is: a.equal to 120 b.greater than 140 c.equal to 140 d.between 120 and 140 e.less then 120
- Diminishing returns begins with the addition of the 2nd,5th,4th or 3rd worker10. If over the range of positive marginal product, the short-run total product of factor A in the production of X is given by the equation: X=aA +b A2 – A3 Where a, and b are positive constants, and if the average product of A is maximized when X=100, then the marginal product of A must be greater than the average product when X=50. True or False ?. Prove your answer.provide an isoquant/isocost analysis diagram explaining the possible impact of the higher wages onthe output level, total cost of production and input-factor mix of this business in boththe short and long-run estimated that the wage elasticity of labour demand is -1.7
