The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal Average product of labor (TPL) Product Product of (MPL) labor (APL) 1 20 30 3 36 4 40 5 42 6 42 1. Based on the above table, how much is the marginal product (MPL) of the 3rd labor? 2. Based on the above table, which labor has the largest marginal product? 3. Based on the above table, if the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*)?

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A:

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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…

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A: The marginal product is characterized as the additional product that outcomes from adding one unit…

Q: Answer the attach file

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

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

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A: Average Product(APL) is the ratio of the total product(TP) and the number of labor(L). it helps to…

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A: Answer a) To complete the table we use following formula Total Product = Sum of Marginal…

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A: Average product = Total product / labor

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A: 1) Fixed input is when the amount of input remains the same while variable input is when input…

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Q: Solve the attachment.

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A: We are going to use Marginal rate of technical substitution concepts to answer this question

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A: The correct answer is 700.   We take the following formula Value of MPL = 20 × MPL(marginal product…

Q: Question Completion Status: QUESTION 24 The following table shows the DVDS production. Study the…

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Q: slerim > 2U20-2021 Guz Donemi > SIYASAL BILGILER FAKULTESI > IKTISAT> 2021G-ECON211-1228167 > Genel>…

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Q: 2. Define marginal physical product of labor (MPP) and marginal cost of product (MC). How are these…

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A: Marginal product refers to the change in total product with respect to change in quantity of labor.

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Q: VMPL 7ihworker

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Inflation and Purchasing Power Theory

In economic terms, Inflation refers to the increase in the costs of various commodities which are used in daily lifestyle like food, clothes, transport, etc. over a specific time. It may lead to a fall in the purchasing power of the people and also affects the exchange rate of the currency because of the price increase. As the purchasing power falls the unit of the currency in the economy falls. When the prices of the commodities are decreased, then the purchasing power of the consumers will rise, then it will lead to deflation and changes the currency of the base economy to that of the foreign economy which will lead to change in exchange rates.