estion Completion Status:QUESTION 9The following table shows the DVDS production. Study the table and answer the questions?Labor (L)TotalMarginalproduct oflabor (TPL)AverageProduct oflabor (APL)Product(MPL)0.0.12030336440426.42Based on the above table1. How much is the marginal product (MIPL) of the 3rd labor?2. Which labor has the largest marginal product?3. What is the value of Average Product of labor (APL) at 5 labors.4. If the price of DVD is $20, what is the values of Marginal Revenue Product of labor (MRPL)at 2nd labor ?5. If the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*?

Name: estion Completion Status:QUESTION 9The following table shows the DVDS
Uploaded: 2022-11-18T18:07:42.000Z
Channel: Bartleby
Description: estion Completion Status:QUESTION 9The following table shows the DVDS production. Study the table and answer the questions?Labor (L)TotalMarginalproduct oflabor (TPL)AverageProduct oflabor (APL)Product(MPL)0.0.12030336440426.42Based on the above tab

Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Business

Economics

The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total product of labor (TPL) Marginal Product Average Product of (MPL) labor (APL) 1 20 30 3 36 4 40 5 42 6. 42 Based on the above table 1. How much is the marginal product (MPL) of the 3rd labor? 2. Which labor has the largest marginal product? 3. What is the value of Average Product of labor (APL) at 5 labors.

The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total product of labor (TPL) Marginal Product Average Product of (MPL) labor (APL) 1 20 30 3 36 4 40 5 42 6. 42 Based on the above table 1. How much is the marginal product (MPL) of the 3rd labor? 2. Which labor has the largest marginal product? 3. What is the value of Average Product of labor (APL) at 5 labors.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter13: Factor Markets: With Emphasis On The Labor Market

Section13.1: Factor Market

Problem 2ST

See similar textbooks

Similar questions

QUESTION 18 The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal Product Average Product of MRPL product of labor (TPL) W (MPL) labor (APL) 20 20 30 36 4 40 42 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?
Labour (Units) Total Product (TPP) (MPP)0 01 1002 2503 3504 4005 4206 420Calculate and plot the average product and marginal product What is the most favourable number of workers for this business to hire, indicate such on the graph
□ Andry produces all-natural tote bags. She currently hires 20 workers who produce 240 bags a day. If she hires another worker, the worker's marginal product will be 33 tote bags a day. What would be the average product per day of 21 workers? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C Question 33 d 33 tote bags 1.6 tote bags 13 tote bags 273 tote bags
Homnework Question, I do not understand
1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16
Quantity of labor (workers) Total product (hair stylings per day) 1 10 2 25 3 45 4 60 70 The above table shows the total product schedule for Hair Today, a hair styling salon. The average product when four workers are hired is O A) 10 hair stylings. B) 15 hair stylings. C) 20 hair stylings. D) 240 hair stylings. E) the same as when five workers are hired.
Marginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 5 6. 120 30
Topic: Labour Economics. Need solution for tasks 4 4.1 4.2 4.3
(TCO C) You have been hiredto manage a small manufacturing facility whose cost and productiondata are given in the table below.No. of workers Total LaborCost Output TotalRevenue 1 $150 100 $170 2 300 108 550 3 450 114 1150 4 600 119 1470 5 750 123 1600 6 900 125 1700 7 1050 126 1750 What is the marginal product of the secondworker?
A company produces children's toys. The manager noticed the connection between the number of employed workers and the quantity of toys produced per month, which are presented in the table of following: a) In what period is this firm operating? Why? b) What is the average product when 5 workers are employed? c) What is the marginal product when 7 workers are employed? What does this value mean? d) Does the law of declining marginal income apply? If yes to which worker? e) In this production function do we have total declining revenues? If so, which worker happens? f) Graph the curves of total product (TP), marginal product (MP) and product average (AP).
The data in the table below represents Total product (TP), for an agri-business involved in potato production. Саpital (fixed factor) Labor Marginal physical product (MPPL) Оutput(units) Average physical product (АPPL) (variable factor) or Total physical product (TPP1) 10 10 1 7 10 2 20 10 3 39 10 4 55 10 66 10 6 70 10 7 70 10 8 67 (i) Calculate the marginal product and average product value. (ii) At what point do diminishing marginal returns set in? And using the values of AP and MP obtained from part (i), plot the graphs of TP, AP and MP being careful to fully label the graph and explain briefly the law of diminishing marginal returns from your computation. (iii) How does the hypothesis of diminishing returns (MP& AP) influence the behaviour of costs (MC& AC)?
Question 17 The average product of labour is the output per employee often in table 17.1 to answer the question below. Table 17.1 Output units 1000 2 500 6 000 7 000 8 000 C) d) Number of employees 10 20 30 50 As the number of employees increases from 10 to 50 the a) Is constant b) Falls then rises Rises Falls