QUESTION 10 Marginal product is: O B. the increase in total output attributable to the employment of OD.total product dinided by the Somber of workers O C. the increase in total cost OA. the increase in total revenue attributable to the employment of one attributable to the employment of one more worker one more worker more worker employed

Q: 1, If the wage rate 'w' is $40 and the cost of capital is $40, calculate the average cost of…

A: In economics, average cost or unit cost is equal to total cost (TC) divided by the number of units…

Q: A2) If a firm's marginal product of labour is less than its average product of labour, then an…

A: The marginal product refers to the additional output produced on employing an additional unit of an…

Q: QUESTION 6 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O A…

A: The marginal revenue product of labor (MRPL) is the incremental revenue that is received by the firm…

Q: Total product (meals per hour) 24 20 TP 16 12 4 2 3 5 Quantity of labor (workers) The figure shows…

A: Total product shows the relationship between output produced and number of input hired.

Q: Listen Number of Workers Total output 20 1 2 50 Listen 3 90 4 140 190 210 7 200 Where does the…

A: Answer: The formula for the marginal product is given below: MPn=TPn-TPn-1Where,MPn=marginal product…

Q: Total product (meals per hour) 24 20 TP 16 12 8. 2 3 4 Quantity of labor (workers) The figure shows…

A: Total product curve shows a relationship Total output and labour inputs.

Q: Exhibit 7-3 A marginal product curve 200 150 Marginal 100 product 50 MP 0 1 2 3 45 6 7 8 9 10 11 12…

A: Answer: Correct option: option 4 (more than 5 workers per day) Explanation: Law of diminishing…

Q: In the table below, marginal product becomes negative after employing the Input of Labor (no. of…

A: Marginal product of an input is the additional output that results from adding an extra unit of…

Q: TABLE 7.1 TOTAL OUTPUT TABLE-DEEP CREEK MINING COMPANY 1. In the Deep Creek Mining Company example…

A: The three stages of production are as follows :- Increasing returns - Stage 1 - At this stage each…

Q: Which of the following statements is not correct? Select one: O a When MC is below AVC,…

A: The MC cuts the AVC at the minimum point of AVC. The production function shows the relationship…

Q: At Fuller's Coffee Shop, the marginal products of the first, second, and third workers are 15, 11,…

A: Marginal product is the additional output produced with an additional worker hired. It is the ratio…

Q: Productivity is O A. the value of profit divided by the number of production workers O B. the value…

A: Hello, thank you for the question. Since there are multiple questions asked here, only the first…

Q: As a firm hires more labor in the short run, the O extra output of an additional worker may rise at…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: IT Quantity of labor (workers) Total product (hair stylings per day) 1 10 2 25 3 45 4 60 70 The…

A: Total product shows relationship between total output produced and number of workers hired

Q: The table shows total production of a firm. If units of labour (L) increase, find below.…

A: We use the following formulas, Marginal product = Current total product - Previous total product…

Q: Discuss how Law of Diminishing Marginal Returns (LDMR) is important to a factory owner in terms how…

A: Law of diminishing returns is the situation where the additional output increases by less when the…

Q: QUESTION 5 Refer to the data. Avearge product of 3rd labor is units : -------- Output (TPL) Labors…

A: Average Product is the ratio of total product to the level of output.

Q: What does a business' labour-demand curve represent? Select one: O a. the quantity of labour…

A: The labor market illustrates how the equilbrium wage rate and quantity of labor are determined by…

Q: Oc. The marginal product of labour is rising as hours of study increase. O d. The marginal product…

A: Working hours is 40 hours per week and wage rate is 10 and then total income is 400 . To maintain…

Q: abor Total Product Marginal Product 1 2 2 2 6 A 3 B 6 4 16 4 5 18 C 6 D 0

A: Answer to the question is as follows :

Q: Using the value marginal product concept, what do you expect if the price of the product sold falls?…

A: Marginal Product The marginal product of an input is the additional output that results from adding…

Q: Pizza Hut Total product Labor (workers) (pizzas produced per hour) 1 6. 12 14 15 Using the data in…

A: Evaluating the MP of the labor from TP.

Q: 14 When Total Product of labors (TPL) is maximized then: A. Marginal product (MPL) is maximized B.…

A: Total product in economics refers to the level of output that is produced with the help of given…

Q: 7. The firm is currently along isocost CE. If the price of capital is 30, then the price of labor is…

A: Given: Price of capital=30 Isocost: CE To find: Price of labor Note: Due to multiple questions being…

Q: Quantity of Labor (workers) 0 1 2 3 4 5 6 Total Product (units per hour) 0 2 5 9 15 18 17 The table…

A: The average productivity of labor is the productivity per labor which can be calculated by dividing…

Q: QUESTION 8 Which of the following statements concerning the relationships between total product…

A: We can answer this question using subsequent graph of the Total Product, Marginal Product and…

Q: (a) Define marginal rate of technical substitution. (b) "Returns to scale differ considerably…

A: a)  The marginal rate of technological substitution (MRTS) is a measurement of how much one input…

Q: Pls help with below homework, I will upvote-) 2.1 What is differences between ‘economies of scale’…

A: DEfinition: Economies of scale are obtained by associations when creation becomes useful.…

Q: QUESTION 4 When Total Product of labors (TPL) is maximized then: O Average product (APL) equals zero…

A: Total product of labor:-  The TPL curve depicts how much productivity a company can generate using a…

Q: QUESTION 10 When Total product is at Maximum, Marginal product will be - O B. Negative ---- -- A.…

A: Total product (TP): - Total product is the amount of total final goods and services produced by a…

Q: 13. At its current employment level of labor and capital, a firm observes the following. Marginal…

A: A firm maximises profit or minimises cost at a point where marginal rate of technical substitution…

Q: l decreae firm uses both labor and capital to produce 25 units of output. The marginal product of…

A: The two inputs are used here, labor and capital.  The marginal product of labor (MPL) = 100 The…

Q: 80 A HYPOTHETICAL PRODUCTION FUNCTION Number of Workers Total Product 25 2 60 3 80 4 85 82 The table…

A: Answer to the question is as follows:

Q: If the marginal product of labor increases because of a technological advancement, it will likely…

A: If the marginal product of labor increases because of a technological advancement then it will…

Q: When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: A. The firm…

A: The marginal product of labor is the change in revenue resulting from an additional unit of labor.…

Q: 69 O Completed 17 out of 20 Question 7 of 20 Because P> MR, which equation applies to the value of a…

A: please find the answer below.

Q: Refer to the data provided in Table 10.1 below to answer the following question(s). Table 10.1 Total…

A: As per given table,   At profit maximizing point, Marginal product value = Marginal labour cost

Q: hire any more workers? She estimates that the additional workers would generate th following output.…

A: Workers hired Total Product Average Product Marginal Product 0 0 -- -- 1 12 12 12 2 22 11 10…

Q: The number of oil changes conducted by a service station depends on the number of workers as shown…

A: A) Table with MP and AP

Q: Marginal product is: O A. the increase in total revenue attributable to the employment of one more…

A: Marginal product is part of marginal analysis.

Q: 16. As more and more of the factor of production is used The total product curve rises rapidly at…

A: The output generated by all employed workers is referred to as total product.

Q: Nathan owns a bakery that bakes only cakes. All of his bakers work 8 hours per day. In 2006, he…

A: Productivity = Output / Number of labor hours per day, where Number of labor hours per day = Workers…

Q: 1. (a) Calculate the marginal and average product from the following table. Labor Total product 200…

A: MP(marginal product) and AP(average product) are calculated as: MPn=TPn-TPn-1APn=TPnL

Q: how the marginal product of labor and the average product of labor change as the quantity of labor…

A: Marginal product of labor is that the extra units of output produced with increase within the amount…