Exhibit: Factors of Production Data Period Y K 1 1 3 4 5 100 106 111 110.5 110 200 -1.62 percent -1.64 percent 3.75 percent O 2.52 percent 205 210 215 220 L 100 102 104 104 104 Share of Labor in Output What is the growth in total factor productivity in period 3? 0.5 0.5 0.5 0.5 0.5
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- UCtlön to Mathematica i İktisat(İngilizce)(1.Ö) 2020-2021 Bahar If population of a city groWs at 2.3 percent, how long will it take to double? O a. 30.1368 Ob. 28.8811 Oc. 26.6595 O d. 27.7250(a) Explain the effects on the equilibruim if Total Factor Productivity decreases temporarily. (b) What should be the effect if Total Factor Productivity decreases permanently? (c) Explain the difference between part a and bin 1977. The base period, fine wood company's unit labor requirements were 2 labor_hours per chair. 4 labor_ hours per table, and 3 labor_hours per bookcase. In 1980 , fine wood company's expended 50000 labor_hours to produce 21000 chair's 3000 tables , and 2000 bookcases. Compute the 1980 productivity index
- Problem 1 Cefel Furniture is a small furniture shop that focuses on making kitchen chairs. The weekly wwww ww dollar value of its output, including finished goods and work in progress, is 14,280. The value of inputs,such as labor,materials, and capital, is approximately 16,528. Compute the total productivity measure for Cefel Furniture. wwww Problem 2 Cefel has just purchased a new sanding machine that processes 17 chairs in 8 hours. What is the www productivity of the sanding machine? Problem 3 Cefel has hired two new workers to paint chairs. They have painted 10 chairs in 4 hours. What is www their labor productivity? Note that all the problems are connected.3. What are the 2 variables that the Production Function is analyzing/graphing? Why does the production function diminish over time?OneLogin x B Achieve Assignments - ECO2023 X Assessment - Microeconomics 68 X rning.com/courses/b390dd47-7af5-4231-b050-94a970e501f8/4/dc7abv/tools/assessment/items/247874a5-e17c-49e. Completed 14 out of 20 Question 4 of 20 Entrepreneurs deserve the profits they earn because they O have college degrees. O bear the risks of failure and bankruptcy. extract rent from fixed inputs. are visionaries. LAPTOP LOGIN USERNAME: student PASSWORD: Broward
- Pitt 2224 X BIOS X Б Ansv X Recr X (15) X Bio Micro The X A My ( xuli Ecor x Micr X Chem II N Hom X Mail x G bud x + production-gradescope-uploads.s3-us-west-2.amazonaws.com/uploads/pdf_attachment/file/65133311/2022s_Recitation_2_Activity.pdf?X-Amz-Algorithm=AWS4-HM... A Apps M Gmail YouTube Maps KnightCite Citatio... Charles Schwab O job E Reading List Microsoft Word - 2022s Recitation 2 Activity 1 / 2 110% + | 0 O Recitation Activity 2: Utility Maximization & Demand Name: Part 1: Utility Maximization Bart and Maggie are Pitt students who are allocating their budget for carrying bags between plastic bags, which cost $0.25 each, and the Pitt ByoBag, which costs $6 each. They each have a budget of $18 to cover the cost of carrying bags over the 30 week semester. 1 MAGGIE (Budget = $18) Plastic Bags ВyoBags MU Quantity Total MU/S Quantity Total MU MU/S Utility (Р-6) Utility (P=.25) 1 144 144 24.00 1 10 10.00 40.00 168 24 4.00 12 40 2.00 8.00 3 180 12 2.00 24 55 1.00 4.00 4 186 1.00 48 70…Suppose that production function of certain devices is determined by: q = k * L - 0.8 k2 - 0.2 L2 Where q represents annual quantity of devices produced, k represents annual quantity of capital factor, and L represents annual quantity of labor factor. (a) Suppose k = 10; draw a graph with average and total labor productivity. What is level of labor (L) factor at which average productivity reaches a maximum? How many devices are produced at that point? (b) Assuming again that k = 10, plot Marginal Product (MP) curve. At what level do we have that labor (L) factor is MP = 0? (c) Suppose capital (k) factor were to increase to k = 20. How would your previous answers change?15. A firm can use three different production technologies, withcapital and labor requirements at each level of output as follows:TECHNOLOGY 1 TECHNOLOGY 2 TECHNOLOGY 3DailyOutputK L K L K L100 3 7 4 5 5 4150 3 10 4 7 5 5200 4 11 5 8 6 6250 5 13 6 10 7 8a. Suppose the firm is operating in a high-wage country, wherecapital cost is $100 per unit per day and labor cost is $80 perworker per day. For each level of output, which technologyis cheapest?b. Now suppose the firm is operating in a low-wage country,where capital cost is $100 per unit per day but labor cost isonly $40 per unit per day. For each level of output, whichtechnology is cheapest?c. Suppose the firm moves from a high-wage to a low-wagecountry but its level of output remains constant at 200 units
- 70,0001 Norway 60,000 United States 50,000- Netherlands Denmark •. Germany France 40,000- :UK South Korea Jарan. Italy" • Spain 30,000- Greece Russia 20,000- Mexico Chile Turkey 10,000- 0. 6,400 6,500 6,600 6,700 6,800 6,900 7,000 7,100 7,200 7,300 7,400 7,500 Average annual hours of free time per worker According to the graph: Select one or more: а. UK workers have more free time than Greek workers. b. UK workers have lower GDP per capita than Spanish workers. O c. The relationship between GDP per capita and free time is downward sloping. d. US workers work longer hours than French workers. GDP per capita (USD PPPS)Question 2 If the slope of the total productivity line is decreasing as output increases, what does that say about marginal productivity a. increasing b. decreasing c. constant d. cannot be deter Full explain this question and text typing work only thanks5) Production Theory - The table below shows the production capabilities for a small fishing operation in the Pacific Northwest. Total Product (TP) refers to the number of pounds caught in a day. Fill in the missing columns below. L 0 1 2 3 4 456700 8 9 10 11 12 TP-q 0.00 7.00 18.00 33.00 46.00 55.00 62.00 67.00 71.00 74.00 76.00 76.00 74.00 MP AP