The per-unit standards for direct labor are 2 direct labor H was $30000 for 4000 direct labor hours worked, the totall O $42000 favorable. O $56000 unfavorable. O $2400 unfavorable. O $42000 unfavorable.
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- Units of Total Average Marginal Product Product Product Labor 1 100 2 125 3 300 4 20 5 290 In the table above, diminishing returns Multiple Choice O begin with the first unit of labor. begin with the third unit of labor. O begin with the fourth unit of labor. begin with the fifth unit of labor. do not occur because output is positive for all levels of labor usage. OThe 2nd unit of a 10-unit job took nine hours to complete. The 6th unit has been worked on for two hours, but is not yet finished. Estimate the additional amount of time needed to finish the 6th unit if the work has a 70% learning curve slope O a. 5.114 hours O b. 3.113 hours O c. 3.258 hours O d. 4.143 hours O e. 6.143 hours8 If the Marginal Rate Technical substitution (MRTS) of labor (L) for capital (K) equal * (0.5), then the MPK/MPL is 4 O 2 0 1 0 0.5 O
- When diminishing marginal returns to labor sets in, that means: Select one: O a. With an increasing number of new employees causes the marginal product of another employee to be smaller than the marginal product of the previous employee at some point O b. MPKL is falling O c. variable costs remain constant as more output is produced O d. Marginal product of labor is increasing10. the olowing graph shows the marginal and average product curves for labor, the firm's only variable input. The monthly wage for labor is $2,000. Fixed cost is $120,000. + APMP 100 80 60 MP AP 20 40 60 80 100 120 140 10 Labor What is AVC at its minimum? Multiple Choice O $80 when AP is maximzed O $15 . O$25 .O$40 120000 . O$100 2,000 Ave rage ard m arginal prodictof laborThe first unit of an eight-unit job took 64 minutes. If the work has a 75% learning curve, which is your estimate of the minutes that will be needed for the last unit (Apply the incremental unit Time Model)? O a. 48 O b. 54 O c. 36 O d. 27
- Mr. R is working from7:30 AM to 3:30PM including lunch break for 5 days every week in jewelry design shop. His main task is designing authentic men's jewelries. He agreed to be paid by piece rate of 15 OMR /design for 15 weeks. If his daily output is 10 designs, calculate total earnings. O ,050 OMR O 10,500 OMR O 750 OMR O 11,250 OMR Labor demand and supply of labor are external factors that impact compensation practices. If supply of labor is less than the labor demand, most employers offer to jobseekers. O Higher rate Going rate O Lower rate O Market rateIn the table, the marginal product is greatest when the Total Product, Marginal Product, Average Product Labor (workers per day) Total prod- uct (units per day] Mar- Average ginal product prod- uct 3 12 15 O A. first worker is hired. B. second worker is hired. OC. third worker is hired. D. fourth worker is hired. ON 00 N n6 O12M+ 5quantity of machines 100 90 80 70 60 50 40 30 20 10 O $3450 O $6000 O $3000 (10,84) O $4250 10 20,20) 20 (30,9) 40,5) 40 50 quantity of workers 30 A jewelry firm uses workers and machines to make bracelets. Workers cost $100 per day and machines cost $50 per day. The firm produces 200 bracelets per day. The lowest variable cost of producing 200 bracelets is _q=200 60
- (Table) Based on the table, what is the MRP for the sixth worker? Q Labor Output Product Price MRP 25 11 2. 40 11 50 11 58 11 5 64 11 67 11 O A. $737 OB. $0 OC. $33 O D. $3 A Moving to another question will save this response. 0000Given the hourly costs: Machine-P60; Worker-P50 Each input has to work in integer hour Marginal Product Machine Hours Used 1 2 3 4 5 6 7 8 15 18 21 18 15 12 9 3 Worker 8 10 10 10 8 6 4 2 00 If the daily budget for the 2 inputs is P570, what is the optimal mix of machine-hours and worker-hours, respectively? [Select] What is the total product for this optimal mix of machine- hr & worker-hr with daily budget of P570? [Select] After how many hours of use does diminishing marginal return (product) set in for the machine? [Select]If, by increasing the qulf, by increasing the quantity of labour used by one unit, the firm can give up 2 units of capital and still produce the same output, then the MRTSLK is: antity of labour used by one unit, the firm can give up 2 units of capital and still produce the same output, then the MRTSLK is: O 4 O 1 O 2 O 0.5