What is the formula for total factor productivity? What will be happened when the labour input is measured by total hours not total employment? Why will the TFP be so large and in negative value?

Q: The following question deals with The Gizmo Company, which has the following production function:…

A: Given: The real wage equals = 9                            Number Of Workers…

Q: The following table shows the relationship between the number of workers employed and outputs at…

A: Given: Number of workers Cups of Coffee Produced 1 50 2 95 3 135 4 170 5 200 6 225

Q: Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the…

A: Calculation of MPL: Labor Output (TP) MPL 0 0   1 100 100 2 195 95 3 275 80 4 340 65…

Q: When the total product curve is drawn in a figure that measures employment along the horizontal…

A: The production function shows the technical relationship between input factors and final output. In…

Q: factor productivity, z, increases to 5. What is the substitution effect of this wage change on…

A: Consumer utility means the satisfaction obtained by consumer by consuming one unit of commodity.…

Q: In order to maximize profits, a firm needs to determine the quantity of each factor that it will…

A: The formula:Marginal product = change in total product because of the worker in context…

Q: supply and demand analysis in the labour market  graph the following and explain your graph: an…

A: The demand curve for labor, under the ceteris paribus assumption, shows the amount of labor…

Q: Find the average productivity of a factor when the total output is 1440 units and the total number…

A:

Q: Examine the table below. What is the value of the marginal product of the second unit of labor?…

A: Marginal product = change in total production / change in labor

Q: Labour (Units) Total Product (TPP) (MPP) 0 0 1 100 2 250 3 350 4 400 5 420 6 420 Calculate and plot…

A: Answer: Formulas to be used: Average product=Total productLabor…

Q: Several external influences impact the labour relationship. Discuss the following of these…

A: The economic dispensation Answer: A capitalist system or a free market system provides firms more…

Q: Explain why labor productivity and real hourly compensation track so closely over time.

A: The labor is the individual who is willing to work at the prevailing wage rate in the economy. The…

Q: If: q = L+K Wage = 20 Rate of capital = 40 How much does it cost the firm to produce q =…

A: Production function : q = L+K We will first find out the marginal product of labor and capital…

Q: Give some examples of direct labor?

A: Direct laborers are the individuals and staff who produce the company’s products and provide…

Q: one of the factors that may have contributed to the increase in female labour force participation…

A: The labour force participation rate, which shows the economy's workforce that desire to work. It is…

Q: In this section you have to indicate whether you think the statement is true or false and explain…

A: Costless way is when at given price all the employees are hired and there would be horizontal labour…

Q: why in her calculation of the cost of going to college, an economist would include the amount of…

A: Economic cost= Accounting cost+Opportunity cost.

Q: The following table shows the relationship between the number of workers employed and outputs at…

A: The market price of each cup of coffee is $20, and the market daily wage for each worker is $800.…

Q: OThe profit-maximizing quantity of labor equates the marginal product of labor with A) the average…

A: "Since you have asked multiple questions, we will solve the first one for you. If you want any…

Q: What is the combined rent, interest, and profit share of the income earned by Americans in a typical…

A: Cluster analysis can be used to split proprietor's income so as to calculate combined rent,…

Q: The marginal product of labor for a firm is given by: MPL = 188 - 4H, where H is the number of hours…

A:

Q: Under what assumptions is the aggregate labour demand function to be represented as a…

A: The quantity of labor available to be offered at a certain pay rate is referred to as labor supply.

Q: The marginal product of labor for a firm is given by: MPL = 176 - 4H, where H is the number of hours…

A: Introduction The marginal productivity of labour shows an increase in the output due to employing…

Q: If there is an increase in productivity or an increase in the demand for the final product, what is…

A: Labour demand curve is downward sloping and it shows the relationship between wage rate and the…

Q: If RGDP as measured by the Product Market is shown to be $14T, explain what you would expect RGDP as…

A: GDP is the sum of the final market value of all the final goods and services produced within the…

Q: Louise's individual labour supply curve is upward sloping, which of the following is consistent with…

A: Labor supply shows different combinations of wage and number of hours supplied.

Q: Why do you think it is that not allworkers are members of laborunions?

A: Labor unions can be understood as an association of workers that works to protect the interest of…

Q: The work force of a certain factory is growing at rate of 2 per month while the average productivity…

A: The productivity formula is used to calculate the productivity of complete production process or of…

Q: How is the value of marginal product of labor (VMPL) defined? a.Price of output multiplied by the…

A: the marginal product of labour (MPL) is the change in the output due to one additional worker/labour…

Q: Which type of income is composed of both the labour income and capital income of those person who…

A: The amount earned by employed people by working is referred to as labour income. To separate it from…

Q: Explain how intertemporal substitution is important for current labour supply and for the current…

A: Labor: - labor is one of the factors of production, any physical and mental work by humans against a…

Q: Suppose than an economy has output Y = AKO.5L0.5, that Y equals $20 trillion, capital K is $25…

A: The productivity of all inputs is referred to as total factor productivity (TFP). TFP measures an…

Q: Which has held a larger impact in the united states within this past century, added worker or…

A: Added worker effect and discourage worker effect on the field of employment has changed over the…

Q: How should one interpret the fact that—all other things equal—workers with a lot of seniority earn…

A: Workers are the asset for a firm who use their labor, physical, mental efforts in production of…

Q: What impact does technological change have on employment?

A: Technology refers to the process that a firm used to turn inputs into outputs of goods and services.…

Q: Assume that supply curve is vertical and labour demand curve shifts to the left. This would lead to…

A: Labor demand curve shifts to left means demand for labor will decrease. Therefore real wages will…

Q: Assume that the labour force is 20 workers, the capital stock is $4500, and output is $1550. If the…

A: Production function shows relationship between output and inputs. The given production function…

Q: Define the following •Unskilled labour **** **** Skilled labour ***** Semi-skilled labour

A: The firms tend to use various factor inputs, which are either variable, or fixed in nature. The…

Q: The following picture represents the impact of a change in total factor productivity. What happens…

A: We see that the leisure taken has not decreased, which means that the labor hours reamains the same.…

Q: How each of the following situations will affect labour demand, i.e. if it will cause a movement…

A: Two inputs are substitutes when only one of them is used to produce good