Between which levels of bracelet production does Betsy's firm experience increasing marginal returns and diminishing marginal returns? There is insufficient information to answer the question. Marginal returns increase from 0 to 31 bracelets, then diminish from 45 to 51 bracelets. Marginal returns increase from 31 to 51 bracelets then diminish from 51 to 51 bracelets. Marginal returns increase from 0 to 3 bracelets then diminish from 31 to 51 bracelets. Betsy's Bangles produces and sells woven bracelets. The table shows information about the number of workers employed, daily bracelet production, and the marginal product of labor (MPL). Use this to answer the questions. Workers Bracelets MPL 0 0 1 3 3 2 * 28 You must calculate the bracelet values that are absent to answer the question. 3 45 14 4 * 6 5 * 0 How many bracelets can be produced by 5 workers? bracelets from 5 workers: bracelets

What shapes would you generally expect a total product curve and a marginal product curve to have?

Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.

Why do you mink the U.S. experience with inflation over the last 50 years has been so much milder than in many other countries?

If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?

What is the difference between a fixed input and a variable input?

What is the difference between being unemployed and being out of the labor force?

What is a production function?

Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?

What is the difference between economies of scale, constant returns to scale, and diseconomies of scale?