QUESTION 13 A negative productivity shock O A. always decreases the amount of output for a given level of inputs O B. may increase the amount of output for a given level of inputs C. decreases the demand for goods O D. none of the other options
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- 7.18 You are the chief learning officer for your organization and are tasked with evaluating a recent training program. What is the easiest way to accomplish this task? O Measure the return on investment. O Assess the transfer of learned skills to the job. O Test participants' knowledge and skills before and after the program OAssess participants' reactions to it.10 Suppose a firm needs to combine 3 units of machines with 7 units of labor to produce one unit of output. Now assume the firm has 18 machines. There is a sudden shock such that the wages of labor doubles in the market. (a) What is the short run elasticity of labor demand? (b) What other margins of adjustment does the firm have in the long run? ExplainA firm’s quantity of output is 10 units. The price of labor is $25 per unit and the price of capital is $100 per unit. The input combination of labor and capital is 20 units and 30 units respectively. Calculate: a. LTC b. LAC
- A. Explain how MP = decreasing within the Cobb - Douglas function ( explain the functions and their variables ) 2.45 2.65 B. The company Tres Monjitas faces the following production function : Q = L K and has the following prices of inputs : PL = $ 10 and PK = $ 20 . Estimate the Cobb - function Douglass (Get L relative to K).Question 2 If the slope of the total productivity line is decreasing as output increases, what does that say about marginal productivity a. increasing b. decreasing c. constant d. cannot be deter Full explain this question and text typing work only thanks28 - The most important factor affecting a firm's production decision is the state of the supply curve. Which of the following is not a contributing factor?A) Weather conditionsB) investment surplusC) Economic GrowthD) WarE) Cost shocks
- A producer has the following technology.y= 6K^(1/2)L^(1/2) a) Prove formally that the production function exhibits constant returns to scale (use “λ” argument). b) Find analytically MPL and MPK. Is MPL increasing, decreasing, or constant inL? Is MPK increasing, decreasing, or constant in K? c) Short-run: Given stock of capital ̄K= 1 find labor demand (formula) of a competitive firm. Find equilibrium real wage rate if labor supply is given by Ls= 9 (one number). d) Assume again ̄K= 1 and that Ls= 9. The government adopts a real minimum wage of wmin/p=(3/2). Find labor demand (one number) and the unemployment rate (one number). Please depict the equilibrium on a graph with the real wage on the vertical axis and labor on the horizontal axis, indicating the equilibrium quantity of labor, wage, and unemployment, as well as the relevant curves. e) Find the cost function given prices of inputs wK= 4 and wL= 1 (formula). Plot the cost function on a graph, indicating the slope of the cost…Week 6: Production Process Answer the following questions Question ·Bottom of Form XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs labor in the short run to increase production. Complete the following table and use that information to answer the following questions. K L Q MPL VML 5 0 0 0 5 1 50 50 100 ----- 2 125 ------- 5 3 225 100 a. What is the Marginal Product of Labor for the 2nd worker? Explain b. What is the VMPL for the 2nd worker? Explain.3) The short run is a period of time in which A) nothing the firm does can be altered. B) the amount of output is fixed. C) prices and wages are fixed. D) the quantity of at least one factor of production is fixed.
- i. Explain why AS curve is vertical in the long runii. Some economists believe that AS curve is positively sloped in the short run. Explain 3 theories which justify this view.iii. Explain 4 variables which can shift the AS curve both in the long run and the short run.iv. Is there any variable which shifts AS in the short run , but not in the long run?A production function has two inputs: domestic labor (Edom) and foreign labor (Efor.) The market is originally in equilibrium as shown below, and the production budget is fixed. Suppose a shock occurs that increases the marginal product of domestic labor. Assuming no changes in domestic or foreign wages, what will happen to the quantities of domestic and foreign labor employed? Initial long run equilibrium (prior to shock):10. How is marginal product affected if workers are added who are equally good at the job?a. The increase in workers will eventually cause marginal output to fall.b. The value of marginal output increases more with each additional good worker.c. With equivalent workers, marginal productivity will neither rise nor fall.d. Marginal quality will improve as the added workers gain experience.