When the marginal product of adding a worker is a greater loss than the loss of the marginal product of the last worker hired, a business experiences marginal returns. productive increasing optimal negative
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A: Implicit cost are cost of those input which are owned by producer of good . It does not involve…
Q: Suppose the price of labor w = $20 and the price of capital r = $30. The isocost line for a firm in…
A: According to the question, it is given that : The price of Labor w = $20. The price of capital r =…
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A: Law of diminishing returns to the variable input states that as the variable input keeps on…
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A: f(N,K) = 4N1/2 K1/3 Differentiate f(N,K) w.r.t N to get MPN => MPN = df(N,K) / dN => MPN = 4…
Q: A firm is producing 20 units with an average total cost of $25 and a marginal cost of $15. If it…
A: Average total cost is total cost divided by total output produced, ATC = TC / Q Marginal cost is…
Q: The marginal resource cost of a resource measures the extra cost incurred by one more unit of the…
A: Marginal cost is the change in total cost divided by change in output.
Q: When the marginal product of labor ________ the average product of labor, then the average product…
A: The marginal product of labor is increase in total production of a company when one labor unit is…
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A: The law of diminishing returns states that benefits or advantages acquired from something will…
Q: Q 1. The hiring of labour with fixed factor of production under short run after sometimes leads to…
A: 1) The law of variable proportion states that when total output of a good is increased by adding…
Q: Q.No.6 a. If total cost function is (6) C= C(Q) Show the relationship between marginal cost and…
A: Marginal cost refers to the additional cost of production incurred in the process of increasing…
Q: True or false 1-If the marginal product of labor is increasing, the marginal cost of production…
A: 1)Due to increase in marginal product,efficiency would increase,therefore cost would decrease.…
Q: The local ice cream shop is trying to figure out how many workers to hire, and part of the decision…
A: Answer to the question is as follows :
Q: What is a production function? Response option group It is the production technology It is the…
A: A production function highlights the relationship between quantities of physical inputs and…
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: When the quantity of a variable input is increased from 3 units to 4 units the total output…
A:
Q: Question 4 Marginal product is NOT... Group of answer choices the change in the total product…
A: "Marginal product indicate the change in total output from employing one more unit of input (keeping…
Q: Which factor of production is almost never included in a firm's fixed costs? Land Labor Capital All…
A: Land, labor, and capital are considered factors of production.
Q: Coldbox Corporation hires its workers in a perfectly competitive labor market and produces and sells…
A: Total product shows the total amount of goods produced by labors. Marginal productivity shows the…
Q: Labor Output 1 4 2 11 17 20 21 Suppose the firm rents its machine for $10 per day and pays its…
A: Labor Output Variable cost Fixed cost 0 0 0 10 1 4 15 10 2 11 30 10 3 17 45 10 4 20…
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A: The cost of the production of the goods and services would result in the firms costs. The costs of…
Q: When a firm experiences economies of scale in production, a. long-run average total cost declines as…
A: In the long run, firm can change its all factors of production and produce the output where the…
Q: If the marginal product of the fourth worker is less than the marginal product of the third worker,…
A: Marginal product: It means an extra output arising from adding an additional unit of input to the…
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: When the marginal product of labor is increasing marginal cost is decreasing constant increasing at…
A: The marginal cost is the cost of producing an additional one unit of output. Marginal products of…
Q: A firm's marginal cost can always be thought of as the change in total cost if O the firm moves to…
A: The marginal cost definition is the cost of producing a service or product unit that is not intended…
Q: Output Marginal Labor (Q) Product 15 1 50 15 5 4 70 5 60 In the table above, when the firm produces…
A: The labor market of the economy determines the equilibrium wage rate and the quantity of labor…
Q: Which would be an implicit cost for a firm? The cost of worker wages and salaries for the…
A: In economics, there are two types of cost, the one is explicit cost and other is implicit cost.…
Q: When marginal product is zero, profit is at its maximum level
A: Marginal product refers to the additional amount of output produced from the use of additional…
Q: occurs when the marginal product of an additional worker exceeds the marginal product of the…
A: Marginal product of an additional worker is the change in output resulting from one additional…
Q: Marginal Revenue Product = 40 - Q/10. The cost of Labor WL = 15. The production function is Q = 25L.…
A: Given information: MRP = 40 - (Q/10) ------> Marginal revenue product Q = 25L ----------->…
Q: A perfectly competitive firm should hire an additional worker only if а. Total revenue is less than…
A: In the perfectly competitive market structure there exists a large number of buyers and sellers. In…
Q: Assume that an entrepreneur’s short-run total cost function is C = q^3 − 10q^2 + 17q + 66. Calculate…
A:
Q: In the short run, a tool manufacturer has a fixed amount of capital with labor as its primary…
A: A production function illustrates the relationship between the inputs used and the output produced…
Q: Increasing marginal returns to labor A) describe the portion of a total product curve where the…
A: Marginal returns refer to the amount of output generated by the producer when it employed an…
Q: if a firm hire workers at $3 week , labour is 1 and output is 6 what is the fixed cost, variable…
A: Wages (W) is given as $3.Labor (L) is 1.Output (Q) is 6 units.
Q: In the short run, a tool manufacturer has a fixed amount of capital. Labor is a variable input. The…
A: We have to calculate The equilibrium wage rate and equilibrium level of labour use.
Q: Mr Naidoo owns a farm where he specialises in the production of vegetables. There has been increases…
A: Law of variable proportions means that initially when the amount of L(labor) is raised, fixed factor…
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: Diminishing returns occurs in the short run because The average product of labor will decrease after…
A: A firm faces different market situation in the short-run as well as in the long-run.
Q: The following table shows the relationship between workers and output for a small factory in the…
A: Marginal product of labor is the additional output produced, when there is an increase in 1 unit of…
Q: Total cost of the firm rely fully on the total fixed cost of the firm. True/False
A: Costs are the expenses that a firm incurs in the production of the goods and services. It is…
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: You are given the following table by one of your analysts. Provide the profit maximizing point and…
A: Please find the attached table below-
Q: Average variable cost and average total cost get closer as output increases because a) productivity…
A: ATC = AVC + AFC So, AFC = ATC - AVC (= distance between ATC and AVC curves) Also, AFC = TFC / Q As Q…
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- 3:35 "46 2.00 Vo ll KB/S LTE 咖#31) = Chegg Time remaining: 00:09:43 Economics Differentiate between Procyclical Variables and Countercyclical Variables. Also give at least 02 examples of each type of variable. Skip ExitP Take a Test - Panela Kancefwere Personal - Microsoft Edge A https/www.mathxl.com/Student/PlayerTest.aspx?testid-2339589008centerwin 2021FL ECON-2301-20005 (T Th 08:00 AM-09:20 AM) Pamela Kamdefwere & 09/25/2112:36 = Test: Exam 1 Question 3 This Test: 64 pts possible Submit Tes st If the current market price is $25, the market will achieve equilibrium by 50- O A. a price increase, increasing the quantity supplied and decreasing the quantity demanded, 45- O B. a price decrease, decreasing the supply and increasing the demand. 40- O C. a price decrease, decreasing the quantity supplied and increasing the quantity demanded. 35- 30- O D. a price increase, increasing the supply and decreasing the demand. 25 20- 15- 10- 5- 0- 100 200 300 400 500 600 700 800 900 1000 1100 Quantity O Time Remaining: 01:24:39 Next 11:59pm Pearcon ($) aoudWhat is econometrix
- Please help me with this question wih explanantion.if the child buys either chocolates or hard candies one piece at a time, what will be his first two purchases?Session 2 Questions 44 and 45 are open-response questions. ws BE SURE TO ANSWERAND LABEL ALL PARTS OF EACH QUESTION. Show all your work (diagrams, tables, or computations) in your Student Answer Booklet. If you do the work in your bhead, explain in writing how you did the work. Write your answer to question 44 in the space provided in vour Student Answer Booklet. The graph below shows the birth rate and the death rate of a mouse population ovet a three-year period. The immigration rate and the emigration rate of the population are equal. 44 Birth Rate and Death Rate of a Mouse Population Year 3 Year 2 Year 1 Time Key Death rate Birth rate a. Describe what happens to the size of the population for each year shown on the graph. Explain your answers. b. Identify three factors that could affect the death rate of the mouse population, and explain why each factor affects the death rate. 100 rient. Birth and Death Rates
- ECN121 TUTORIAL KIT Q✓ Search in Document Home Insert Design Layout References Mailings Review View 100 level Economics Afolabi Isaac (21AF028579) Times New R... ▼ 12 A- A Aa ECONOMIC CESS FINANCING ¶ AaBbC AaBb CcDd Ee Normal AaBbCo No Spacing Hi guys my name is Felix-Ngige Favour ru... Heading 2 Paste BIU ▾abe X₂ X² A Title Heading 1 Subtitle Styles Pane X Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates 1 2 3 4 5 6 8 9 10 11 r 12 13 14 15 16 17 ℗. mgntipu²|³||$|§———————|||²º| 42| 42| 33 | 34 | 35 | 36 | ²6 || 20) From the information in the table below, calculate the following statistics. Personal consumption N1,344 Investment 456 Net nonbusiness interest income 270 Government purchases 480 Profit 406 Employee compensation 1520 Net exports 24 Rents Depreciation Indirect business taxes Corporate retained earnings Net foreign factor income Interest Social Security taxes Transfer payments Personal taxes…What are the stages of econometrics researchPlease help me with this questions wih explanantion.
- Otomatik Kaydet Belge1 Word (Ürün Etkinleştirilemedi) О Ara gurbuz doymaz 困 O X Dosya Giriş Ekle Tasarım Başvurular Gözden Geçir Yardım 3 Paylaş P Açıklamalar Düzen Posta Gönderileri Görünüm X Kes Ara v Calibri (Gövde) 11 - A A Aa v AaççĞğHh AaççĞğHh AAÇÇĞİ AaÇÇĞğt Aaç AaççğğH AaççĞğHh AaÇçĞğHh a- v S Değiştir A Seç B Kopyala Yapıştır KTA V ab x, x A - ev A v 1 Normal 1 Aralık Yok Başlık 1 Başlık 2 Konu Başlı. Altyazı Hafif Vurg. Vurgu Dikte V Biçim Boyacısı Pano Yazı Tipi Paragraf Stiller Düzenleme Ses 6- A chi-square test of the relationship between personal perception of emotional health and martial status led to rejection of the null hypothesis, indicating that there is a relationship between these two variables. One conclusion that can be drawn is: Please select one; a) the more emotionally healthy someone is, the more likely they are to be married b) there are likely to be confounding variables related to both emotional health and martial status c) better emotional health leads…Question 19 Lot's say you run a simulation and figure out that your sample bs one of the likely sampies that could have come from a DGP of 0. What would that mean? • A That is a good sign. Our model is good and probably explains a lot of variation. • B This is a bad sign for our model because a DGP of 0 means there is no relationship between the explanatory and outcome variable. • C This does not mean anything for our model. We have to run supernova to find out about how good our model is. • Dit depends on what our b Type Markdown and LaTeX: a Question 20 14 MacBook ProFast please thank you 27.