Why does the labour demand curve slope downwards?

Q: Question 5 A manager hires labour and rents capital equipment in a very competitive market.…

A: The optimal amount of labor and capital is such where MPL / MPK = w / rWhere, MPL = Marginal product…

Q: The marginal product of a machine is 10 units of output per hour. The marginal product of labor is 6…

A: When a firm uses only capital and labor in production then the isoquant of a firm shows all the…

Q: Among the following, what is the implicit cost to a firm a) Cost of labor b) Payrolls c) Mortgage…

A: Implicit cost are cost of those input which are owned by producer of good . It does not involve…

Q: i) If the wage rate is $1,000 a week, how many workers should the factory hire? (ii) If a surge in…

A: We will use the ‘Principle of marginal benefit and marginal cost here’. This simply says a firm…

Q: Geralt works for Stregobor as a witcher earning $87,000 a year. He decides to quit his job and…

A: Economic cost includes both implicit costs and explicit costs. Implicit costs are those costs which…

Q: The paper factory employs 470470 workers, producing 1,3001,300 tons of paper per month. Hiring 2020…

A: Given that the marginal product of each additional worker is 1010 tons of paper per month. A total…

Q: Q2.The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: The law of variable proportion states that as a for increases the quantity of one factor of…

Q: Refer to Table 13-9. The marginal products of hiring additional workers are   a) increasing at an…

A: An additional output produced by an additional worker is known as marginal product (MP).

Q: Calculate the total labor cost and the marginal resource cost, and then fill in the blanks in the…

A: The marginal resource cost is the additional cost incurred by employing one more unit of the input.

Q: Farmer Stella has a crop of hemp to be harvested. Picking the crop requires a fixed number of sacks…

A: The marginal product of labor is the change in total output due to a change in the number of…

Q: Question 1 of 20 Use the information in the table to answer the two questions that follow about…

A: Marginal product = change in TP / change in labour

Q: The marginal product of labor is the change in A) total cost from employing one more worker. B)…

A: Marginal product is the additional output produced by employing an additional unit of input.

Q: A garment factory’s production function is provided in the table.The gross profit per unit…

A: The marginal product can be calculated by using the following formula: MP=TPn-TPn-1 The marginal…

Q: Question 2: Table: Total and marginal product of labour Output (total product per week) Labour…

A: The marginal product of labour is the change brought in the units of output with each additional…

Q: depending on the stages of production(increasing returns, diminishing returns, negative returns) can…

A: Solution: Law of variable proportion: It refers to the increase in quantity of only one input…

Q: 2. (Short-run costs, Evren wants to go into the donut business. For $500 per month he can rent a…

A: Given information Production function: Q = 5KL Where Q is tons of donuts K is capital  L is labor…

Q: 1.The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: The concept in economics that explains this situation is the law of variable proportions which…

Q: Question 39 Consider the table below. The addition of worker number when the firm first experiences…

A: Change in the total product when one additional unit of input is used, is called the marginal…

Q: QUESTION 14 When the marginal revenue product of labor (MRPL) is greater than the wage (W) then: O…

A: Q-14:- When the marginal revenue product of labor (MRPL) is greater than the wage (W) then Answer:-…

Q: Practice Question 1 If the price of the product is GH¢2.00 and cost per unit of labour is GH¢10.00,…

A: Given: Price of product (P)=GH 2 Cost of labor=GH 10

Q: Q5. The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: According to the ‘Law of variable proportion’ there are three different stages of production:…

Q: fer to Figure 1 in Question 11. The car-repair shop charges $150 per repair.  What is the value of…

A: Number of Machines (A) Number of Cars Repaired (B) 0 0 1 8 2 12 3 15 4 17 5 18

Q: Labor Output Fixed Cost Variable Cost (Number of workers) (Units) (Dollars) (Dollars) 30 100 30 15…

A: The marginal product of labor (MPL) measures the change in total output due to a change in labor.…

Q: 200 160 Average and Marginal Product 80 40 MP AP 0 10 20 30 40 50 Labor In the figure above, the…

A: The cost per output unit is known as the average cost. The average cost may be calculated by…

Q: QUESTION 18 An input that cannot vary in the short run is called, a. Fixed input b. variable input…

A: In short run the firm adjust theirs variable cost and labour as they required as a output increase…

Q: Why does the labour demand curve slope downwards?

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

Q: Having a marginal product of labor that increases over low levels of employment is common in this…

A: Option B) often it has to do with specialization- workers are able to divide up tasks and be more…

Q: X is a factor of production. When Marginal Revenue = $25, Price of X = $200, and the Marginal…

A: The factors of production are sources which can be the constructing blocks of the economy; they're…

Q: Quantity of Labor Marginal Product Marginal Revenue Product 1. 20 $40 14 28 12 24 4. 8. 16 6. 12 4.…

A: A production function shows the relationship between the inputs used and the output produced in a…

Q: a. Define total variable cost.      b. Illustrate a TVC curve and explain how its shape can be…

A: Costs of production refers to the total cost that a firm incurs for producing a specific quantity of…

Q: The marginal productivity theory is used to assess how many units of a factor of production, such as…

A: (Q)The marginal productivity theory is used to assess how many units of a factor of production, such…

Q: Question 4 The table below describes the production function for a candy maker. Number of Marginal…

A: Marginal Product of Labor (MPL): - it is the change in total production due to the employment of an…

Q: b) A garment factory’s production function is provided in the table.The gross profit per unit…

A: Given: To Find: If the wage rate is $1,000 a week, how many workers should the factory hire…

Q: Requirements: a.     Compute for MP in each unit labor employed. b.     Compute for AP in each unit…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Q 1.The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: The Law of diminishing marginal product is a short-run concept where some factors are fixed and some…

Q: Q 1.The hiring of labour with fixed factor of production under short run after sometimes leads to…

A: Hey, thank you for the question, since there is multiple question posted, according to our policy we…

Q: Output Marginal Profit Labor Marginal Product of Value of Wage (daily) Marginal Product of Labor…

A: The value of marginal product of labor(MRPL) is the marginal product of labor(MPL) multiplied by…

Q: A garment factory’s production function is provided in the table. The gross profit per unit…

A: The factory will hire a worker until the value of the marginal product (VMPL) becomes equal to the…

Q: Question 39 Consider the table below. The addition of worker number is when the firm first…

A: Answer 39) The figure attached below computes the total product at labor 3 by adding total product…

Q: . In the Deep Creek Mining Company example described in this chapter (Table 7.1),suppose again that…

A: The link between the quantity of productive inputs (such as labour and capital) used and the amount…

Q: (1) Labor Demand Curves are a) more elastic in the short-run than in the long run b) less elastic in…

A: Firms need labor and capital as inputs to their manufacturing process for generating products and…

Q: In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The…

A: To get the labor cost and the marginal resource(labor) cost: Formula for labor cost: Total labor…

Q: Multiple choices    One reason why in the short run, the marginal product of labor might increase…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: which of the following best describes marginal product? A.)Left over output- the loaves a bakery…

A: Total product refers to the total output produced with the given inputs. Marginal product refers to…

Q: When the marginal product of an additional worker is less than the marginal product of the previous…

A: In a market, the productivity of the input resources is known as the returns from the inputs used in…

Q: Labor (workers per day) Total product (units per day) Marginal product Average…

A: Marginal Product is the additional change in the total product due to change in labor. MP=Change in…