The following are correct statements about the Marginal Productivity of Labor (MPL), EXCEPT: Question 15 options: It is the increase in production per worker generated by technological innovations Is the increase in total production coming from an increase in one unit of labor Is increasing at early stages of production because the beneficial effect of division of labor in early stages of production. It will eventually decline because additional workers will eventually over-saturate the production process.

The following are correct statements about the Marginal Productivity of Labor (MPL), EXCEPT: Question 15 options: It is the increase in production per worker generated by technological innovations Is the increase in total production coming from an increase in one unit of labor Is increasing at early stages of production because the beneficial effect of division of labor in early stages of production. It will eventually decline because additional workers will eventually over-saturate the production process.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 10E

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All of the following statements about worker productivity and labor costs are true, EXCEPT: A. workers' productivity increases over time. B. experienced workers are more productive. C. experienced workers have higher pay. D. employers with more experienced workers have lower labor costs.
The following are correct descriptions about the concept of Marginal Productivity of Labor (MPL), EXCEPT: Question 1 options: MPL measures the extra production generated by adding one extra unit of labor. MPL initially increases and eventually declines as more units of Labor are added. From the producer's perspective, The optimal level of labor is the one when MPL = Market Wage and MPL is still Increasing. If MPL increases for any given amount of labor, it will lead to a shift up of the Demand for Labor.
Refer to Figure 11-1. Diminishing marginal returns is illustrated in the per-worker production function in the figure above by a movement up along any of the production functions. from Production function 1 to Production function 2. from Production function 1 to Production function 3. from Production function 2 to Production function 1.
In the healthcare economy, as in many other markets, if the firm has a high capital-to-labor ratio, it is more responsive to changes in price due to the inability to easily switch production capacity because of the fixed nature of capital or the substitutability of labor for capital. Group of answer choices True False
Among the sources of increase of productivity are Group of answer choices All of the above advances in managerial knowledge. government regulations. taxations.
what are the two most significant issues that occur for the current marginalist theory of the company when the firm employs constant-returns-to-scale (CRS) technology? Please answer correctly.
The followings are short run production functions for two firms operating in different industries with different capital structures. Find and draw the the Value of Marginal Product for Labor for two firms? Write down the profit maximization problem and derive labor demand curves for each firm? What is the employment (for labor) level for firm 1 and firm 2 ? Find the profit level for each firm? Discuss the impact of public infrastructure investment ,and technological advancement on labor productivity and employment levels for each firm ?
Conclude whether a multiple-output production process exhibits economies of scope or cost complementarities and explain their significance for managerial decisions.
A firm finds the following relationship between workers’ productivity and the amount that workers lose if they are fired. Workers are paid $500 per week at other firms and all jobs last 50 weeks. Dollars lost by workers as a result of being fired Improvement in productivity because workers work harder to avoid losing their jobs (extra dollars to profit to firm) 1,250 1,750 1,750 2,750 2,000 3,500 2,500 4,500 3,250 4,750 Dollars lost by workers Pain for workers lost if they do not have Improvement in productivity →B B-C= Profit Total: Loss of due to waiting Total Weekly amount (C) Total Weekly (b) Profit (b-c) 1,250 0 1250 1250/50=25 1,750 1,750/50=35 10 1,750 0 1750 1750/50=35 2,750 2,750/50=55 20 2,000 0 2000 2000/50=40 3,500 3,500/50=70 30 2,500 0 2500 3500/50=50 4,500 4,500/50=90 40 3,250 0 3250 32500/50= 65 4,750…
Which of the FF. statements is correct about the diminishing returns to labor? A. The diminishing returns to labor starts when the total product is already declining B. The diminishing returns to labor starts when adding labor causes the output to increase but the additional output becomes smaller and smaller C. The diminishing returns to labor occurs due to the presence of fixed assets D. A and C are correct E. B and C are correct
According to the Resource-Based View, which of the following is most likely to result in sustainable above-normal profit rates? Access to a strong CEO that can lead the firm to an unprecedented level of market share Access to intangible resources that are currently producing significant value Access to complex capabilities that are currently producing significant value Access to tangible resources that are currently producing significant value.
Consider the following set of data that looks at how output changes following changes in inputs. Quantity of Labour Quantity of Capital Output 0 5 0 10 5 100 20 5 250 30 5 450 40 5 575 50 5 650 Which of the following statements accurately describes what this data shows? (a) The firm experiences increasing marginal returns to labour at all levels of output. (b) The firm experiences first increasing marginal returns to labour and then runs into diminishing marginal returns. (c) The firm experiences diminishing marginal returns to labour at all levels of output. (d) The firm experiences first diminishing marginal returns to labour and then increasing marginal returns.

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	It is the increase in production per worker generated by technological innovations
	Is the increase in total production coming from an increase in one unit of labor
	Is increasing at early stages of production because the beneficial effect of division of labor in early stages of production.
	It will eventually decline because additional workers will eventually over-saturate the production process.