Calculate the value of the marginal product for each worker

Assignment Help Econometrics
Reference no: EM13242623

Days of Labor Units of Output
0 days 0 units
1 7
2 13
3 19
4 25
5 28
6 29
7 29
Calculate the marginal product for each additional worker
Each unit of output sells for $10. Calculate the value of the marginal product for each worker.
Graph the firm's demand schedule.

Reference no: EM13242623

Questions Cloud

Calculate the exact integration result using matlab : Calculate the exact integration result using Matlab symbolic tools and calculate the errors in calculating work done
Between 1935 and 1943-the workers progress administration : Which of the following states was most affected by population migrations during World War II? Between 1935 and 1943, the Workers Progress Administration. The 1973 Paris Peace Accords led to the
A fund manager at a brokerage firm : You have just taken over as a fund manager at a brokerage firm.
Define what is the percent-yield of h2 : What is the percent-yield of H2 In the reaction below when an equimolar mixture of CH4 and CO2 with an initial total pressure of 20.0 atm reaches equilibrium at 1200. K, at which Kp = 3.548 x 106
Calculate the value of the marginal product for each worker : Calculate the marginal product for each additional worker Each unit of output sells for $10. Calculate the value of the marginal product for each worker. Graph the firm's demand schedule.
Compute the heat supplied to maintain a constant temperature : Four kilomoles of a monatomic ideal gas are at a temperature of 300 K, Compute the heat supplied to maintain a constant temperature
Describe a dioxin-contaminated water source : A dioxin-contaminated water source contains 0.081% dioxin by mass. How much dioxin is present in 4.2 L of this water? (Assume that the density of the solution is 1.01 g/mL.)
Find x compound interest at an effective annual rate : A discounted note of face value amount X, due in one half year, is valued today at $4992. Find X using a) Compound interest at an effective annual rate of 8% and b) simple interest at an annual rate of 8%. Which results with a higher value of X
What is the profitability index : ABC is reviewing a project that will cost $2,081.The project will produce cash flows $594 at the end of each year for the first two years and $784 at the end of each year for the next three years. What is the profitability index? Assume interest rate..

Reviews

Write a Review

Econometrics Questions & Answers

  Calculate the mps and mpc for the family

Suppose a family's annual disposable income is $58,000 of which it saves $8000. if their income rises to $64,000 and they paln to ave a total of $9,500 at this income level, calculate the MPS and MPC for this family

  What does mean if income elasticity coefficient is negative

The income elasticities of demand for movies, dental ser- vices, and clothing have been estimated to be 13.4, 11, and 1.5, respectively. Interpret these coefficients. What does it mean if an income elasticity coefficient is negative

  Determine the present worth of the cranes repair costs

A construction company has purchased a crate that comes with a 3-year warranty. Repair costs are expected to average $3500 per year beginning in year 4 when the warranty expires. Determine the present worth of the crane's repair costs over its 15-..

  What if the price level unexpectedly falls

Full-employment level of real output is $250 and the initially the price level is 100. Use the short-run aggregate supply schedules above to answer the questions that follow a)What will be the level of real output in the short run if the price leve..

  At equilibrium payoffs to coke and pepsi respectively are

Refer to the table above where Coke's payoff is given as the first number in each cell. Suppose Coke and Pepsi are in a strategic environment in which each are deciding whether to manufacture either a big or small can of soft drink (they can't pro..

  What is the opportunity cost of using the unused bundling

The World of Videos operates a retail store that rents move videos. For each of the last 10 years, World of Videos has consistently earned profits exceeding $25,000 per year. The store is located on prime real estate in a college town. World of Vi..

  Determine which lease is the preferred one

As an alternative, the company offers a 24-month lease with a single up-font payment of $ 12,780 plus a $500 refundable security deposit. The security deposit will be refunded at the end of 24-month lease.

  Can you determine about consumer demand for your product

The price elasticity of demand is -2.0 The income elasticity of demand is 1.5. The cross- price elasticity of demand between your good and related goods is - 35 What can you determine about consumer demand for your product from this information

  Compute the price elasticity of demand for paint

Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the following: 1.Compute the price elasticity of demand ..

  What is the change in worker productivity

The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firm's output is $25. The cost of other variable inputs is $400,000 per day.

  Why would you hire the new sales associate

Suppose you are considering adding another sales associate to the floor. Your current total sales are $40,000 per day and your cost of sales, including the sales associates are $66,000 per day. The new sales associate should increase sales

  Calculate mac''s optimal membership and level of profit

The Manchester Athlete's Club (MAC) is a private, not-for-profit athletic club located in St. Petersburg, Florida. MAC currently has 3,500 members but is planning on a membership drive to increase this number significantly. An important issue faci..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd