Question
 Sandwiches, a sandwich shop, has the following marginal product curve (labelled MP) for its hourly productions hourly production.
Expand
Expand

Expert Answer

1 Rating

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Business
Economics

Factors of Production

Related Economics Q&A

Find answers to questions asked by students like you.

Q: Purchases of which of the following goods would be dramatically reduced during a recession? Select o...

A: The demand for the goods which are not a necessity or whose purchase could be deferred would reduce ...

Q: 2.6 The Production Function and Emigration. During the potato famine, many workers left Ireland. Sho...

A: Click to see the answer

Q: The market determined price in a perfectly competitive industry is P = Rs. 10. Suppose thatthe total...

A: Given, P = Rs. 10  TC = 1000+2Q+0.01Q2  

Q: Q) In the country of Kwaki, people fish for salmon and grow corn. In one year they fished $35 millio...

A: Hi Student, thanks for posting the question. As per the guideline we are providing answers for the f...

Q: A firm can manufacture a product according to the production function Q = F(K, L) = K0.5L0.5. (a) Wh...

A: Answer to the question is as follows :

Q: C                      I                         G                               NX              Pri...

A: Click to see the answer

Q: Suppose that a firm produces wool jackets in a monopolistically competitive market. The following gr...

A: In a perfectly competitive market there are large number of firms producing identical products thus ...

Q: Explain THREE specific reasons that could account for the differences observed in the unemployment r...

A: Unemployment: Joblessness is a term alluding to people who are employable and looking for work; howe...

Q: _______________________ happens when the economy is producing at its potential and unemployment is a...

A: Full employment GDP occurs at where the country producing at potential and unemployment is at the na...

Q: Is it possible for total utility to increase while marginal utility diminishes? Explain

A: Total utility It is the sum of satisfaction attained by consumption of multiple units of a commodity...

Q: Question attahed in image

A: Price elasticity of demand measures how much quantity demanded responds to the changes in the price.

Q: 24. When the marginal product curve is above the average product curve, ________ as output increases...

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

Q: Gomez runs a small pottery firm. He hires one helper at $12000 per year, pays annual rent of $5000 f...

A: Accounting profit is the net profit of a firm which is total revenue minus explicit costs. Economic ...

Q: Weekly Income: $28Price of Soup: $5Price of dessert: $3 i) How much dessert should be consumed at th...

A: Answer - Given in  the question - Weekly Income: $28Price of Soup: $5Price of dessert: $3

Q: 1.4 There is no.......... unemployment at full employment.

A: Answer to the question is as follows :

Q: Given below is the Supply Schedule of Nestle Milk per liter: Price of Milk per liter (in Rs) 100 200...

A: We are given below the Supply Schedule of Nestle Milk per liter- Price of Milk per litre (in Rs)    ...

Q: Convergence of the income gap has been most dramatic between Select one: O a. South America and the ...

A: Convergence means that countries with low per capital incomes should grow at a faster rate than coun...

Q: (a) Suppose that the total benefit and total cost from a continuous activity are, respectively, give...

A: Consumer surplus is the area lying below the demand curve and above the market price. 

Q: Suppose the government has imposed a price floor on the market for soybeans. Which of the following ...

A: Price floor is the lower limit on the price of a commodity. It is imposed by government in order to ...

Q: A firm can manufacture a product according to the production function Q = F(K, L) = K0.5L0.5. (a) Wh...

A: We are going to calculate average product of labour and marginal product of labour

Q: 67. In a perfectly competitive market, industry demand is given by Q = 1000 – 20P. The typical firm’...

A: In a perfectly competitive market, P=MC so keeping P in place of MC: MC=(2/3)Q P=(2/3)Q So, quantity...

Q: please plot a graph showing the effect of a government subsidy on the market for surgical masks.

A: The amount given by the government to the producer is known as a subsidy. The main aim of subsidy is...

Q: (a) Why does the labour demand curve slope downwards? (b) A garment factory’s production function is...

A: a) Downward sloping of labor demand curve can be explained with the law of diminishing returns. Hiri...

Q: Charlie Co. sells pastries and its production and cost table is given below. A worker costs $100 a d...

A: Marginal cost is the additional cost incurred in order to produce one additional unit of output. 

Q: 1. how does the study of demography help governments and economies?   2. why is it important to stud...

A: Click to see the answer

Q: (Show the cashflow diagram if needed) A project is estimated to cost P100,000, lasts 8 years, and ha...

A: Cash flow: Income is the net measure of money and money reciprocals being moved into and out of a bu...

Q: Economics Question

A: Click to see the answer

Q: Question attahed in image

A: Answer - Given in the question -

Q: COVID-19 has resulted in many persons being unable to work and has led to a decrease in economic act...

A: The advent of COVID-19 lead to a fall in the economic activity because many people is unable to work...

Q: An automobile is an asset, but it is not liquid because: Answer a. The automobile may not be in good...

A: The liquidity refers to the cash or the asset which can be fully converted into cash without any pro...

Q: How to calculate the labour force participation rate?  Please provide formula Labour force: 140,00 W...

A: The labour force participation rate estimates the portion of a country’s working-age a population th...

Q: The following information is provided about an open economy with a government. Use theinformation to...

A: We the following information about an open economy with a government- C = 450 + 0.4Y (Consumption e...

Q: 1) Large current account deficits imply large financial account surpluses. True Or False?Explain.

A: The current account deficit implies that the value of product and services a country imports exceeds...

Q: Describe four (4) categories of bank regulations that are established to deal with financial instabi...

A: Bank regulation is a kind of government regulation which is intended to subjected banks to restricti...

Q: The following information is provided about an open economy with a government. Use theinformation to...

A: Autonomous spending(A) = C'+ I ' + G' + NX' C' = autonomous consumption  I' = autonomous Investment ...

Q: You are provided with the demand and supply curves for bottles of apple juice. $14 $12 Supply $10 $8...

A: Answer - Given in the question - The price floor of $10 per bottle of apple juice  The Deadweight lo...

Q: a. Is a typical AD curve downward sloping? Explain your answer. b. Suppose an economy is at the shor...

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question s...

Q: a. Which market structure can be best used to describe a Third wave coffee industry? b. Describe thr...

A: Market refers to that place where both buyers and sellers interact with each other to purchase and s...

Q: Q27 How are the following three questions related: 1) Do all demand curves slope downward? 2) How do...

A: Macroeconomics is the study of whole or aggregate things. For example, Macroeconomics studies the ge...

Q: Albion is a company that produces bricks and cement in the UK. Their largest consumer is ConstrUK, a...

A: The utility function, U(x,y)=xb10y1-b10 If b = 4, the function is  U(x,y)=x410y1-410U(x,y)=x410y610U...

Q: Question 19.19.  A state government wants to increase the taxes on cigarettes to increase tax revenu...

A: Taxes are the required payments to the government without expecting any direct return or profit to t...