Which of the following describes the law of diminishing returns to labor?     A. When one more worker got hired their marginal product was negative   B. When one more worker got hired total product of the firm went down   C. When one more worker got hired their marginal product was lower than the marginal product of the previous worker

Q: According to the above production table, diminishing marginal productivity sets in after the hiring…

A: Diminishing marginal productivity occurs when the marginal product of a product diminishes when…

Q: s not maxim

A: Marginal Revenue is the amount of additional revenue being generated when additional Labor is being…

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A: Marginal product is the additional output produced by employing an additional unit of input

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A: Marginal Product of Labor (MPL): - it is the change in total production due to the employment of an…

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A: The relationship among the shape of the marginal price (MC) curve and the marginal product of hard…

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A: Marginal product means the increase in the total output because of addition of one more labor.

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Q: 5) The slope of the line from the origin to a given point on the total product of labor curve equals…

A:

Q: Define different average cost functions in the short run production. What are the shapes of the…

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Q: What does diminishing marginal product imply? The marginal cost of an extra worker is unchanged. The…

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A: The graph shows the marginal and average product curves for labor, the firm's only variable input.…

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A: Answer: The formula for the marginal product is given below: MPn=TPn-TPn-1Where,MPn=marginal product…

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A: Profit is maximized when (Output price x MPL) = Wage rate MPL = Wage rate / Output price

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Q: The marginal product of labor (MPL) is defined as

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A: In economics, the marginal cost of production is the change in total production cost that comes from…

Q: When the marginal product of labor equals the average product of labor, then a.the mar d. c. the…

A: Average product refers to total product per unit of labour. Marginal product refers to change in…

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A: Total Production - is the production done by producer by using all resources  Marginal Production-…

Q: Don't use ai to answer I will report your answer Solve it Asap with explanation and calculation

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A: Labor is the physical, mental, and social effort used for producing goods and services in the…

Q: Labor (L) Average Product of Labor (APL) Marginal Product of Labor (MPL) Capital (K) Quantity of…

A: here we fill the table as follow=

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A: Marginal product is the additional output produced by employing an additional unit of input.

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A: Marginal product of labor (MPL) tells us  about the productivity of labor. It measures the change in…

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A: The change in total production caused by adding one more unit of labour is referred to as marginal…

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A: Marginal value is the value derived from the additional unit of variable.  Marginal product of labor…

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…

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A: MP of 14th worker = 8 Output sell  = $4 per output

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A: Labor productivity, also known as workforce productivity, is defined as the amount of money earned…

Q: abor 1 2 3 4 5 6 7 8 Total Product 13 31 51 67 79 86 86 74 Average Product 13 15.5 17 16.75 15.8…

A:

Q: The production function expressed in the table below represents the amount of hot dogs Hot Dog on a…

A: Marginal product refers to the additional output or production that is generated by using one…

Q: 20. SG store sells its products at a price of $60,000 per unit. it is assumed that labor is the only…

A: Answer; Option (d) is correct $960,000

Q: define marginal product of labor and value of the marginal product of labor.describe how a…

A: Definitions The marginal product of labor (MPL) The marginal product of labor is defined as the…

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A: The Law of diminishing marginal returns is adding each unit of a factor of inputs leads to a…

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A: Total Cost is the cost which incurred by producer for producing goods and services , and this total…

Q: abor Total Product Marginal Product 1 2 2 2 6 A 3 B 6 4 16 4 5 18 C 6 D 0

A: Answer to the question is as follows :