Compute the total product per day and marginal product

Assignment Help Chemistry
Reference no: EM132258348

Standale Plastics produces plastic dustpans, using a  semi-automated system of five machines to produce pans. The amount of labor to tend the machines, repair, adjust input flows, and remove completed pans, is variable, and output tends to follow the formula:

Q = 300L0.6, where Q = units of output produced per day and L = number of daily workers.

(a) Compute the total product per day and the marginal product of labor for the first five workers.

(b) Standale sells the dustpans to retailers at a price of $1 each, and can hire labor at a wage of $125 per day. What is the optimal amount of labor to hire? What is the optimal output of dustpans?

(c) Suppose that the price of the dustpans increases to $1.25. What is the new optimal amount of labor?

Reference no: EM132258348

Questions Cloud

Long and short run equilibrium : If current GDP is 8500, the economy is in long and short run equilibrium.
Describe in detail how this was resolved by the new power : Describe in detail how this was resolved by the new power balance of the 1787 Constitution.
What are the costs to the device company for manufacturing : Medical device company MedDevices, Inc. is a manufacturer of a combination insulin-pump and blood glucose monitoring device.
Use the money to buy two tickets : Should you ask your boss if you can use the money to buy two tickets? Why? in flying or lying in business class
Compute the total product per day and marginal product : The amount of labor to tend the machines, repair, adjust input flows, and remove completed pans, is variable, and output tends to follow the formula:
Perpetuating discrimination in labor markets : What role do consumers play in perpetuating discrimination in labor markets?
Determining the retirement saving : An employee builds up $700,000 over his 40-year working life in a personal account that he plans to use in retirement.
Why people join interest groups : Discuss the reasons political scientists have identified for why people join interest groups. Elaborate on what interest groups do for their member.
Government imposing a tax : What do you say to the idea of a city government imposing a tax on those who watch the fireworks? Give me two reasons to support it

Reviews

Write a Review

Chemistry Questions & Answers

  Determine the limiting reactant and the numbers of moles

Determine the limiting reactant and the numbers of moles of Cu will be formed If you place .092 mol of iron filling in a solution containing .158 mol of Copper sulphate,?

  Explain the maximun pressure at which the freeze drying

You collected a tissue specimen that you would like to preserve by freeze drying. To ensure the integrity of the specimen, the temperature should not exceed -10.5C. The vapor pressure of ice at 273.16K is 611 Pa

  What is the molar mass of the metal

In this experiment a hot metal block at 100oC is added to cold water in a calorimeter. The heat lost by the metal block equals the heat gained by the water and the two end up at the same temperature.

  What is the molarity of the solution

The density of a 23.0% by mass ethylene glycol (C_2 H_6O_2) solution in water is 1.03 g/mL. What is the molarity of the solution?

  Define how many grams of hcl are in a quart of muriatic acid

How many grams of HCl are in a quart of muriatic acid? The muriatic acid density is 1.18 g/mL and is typically 36.5% HCl by mass.

  How many grams of the compound in excess remains after

a reaction mixture contains 11.0 g of pcl3 and 6.83 g of pbf2.pbf2 pcl3 rarr pf3 pbcl2how many grams of the compound

  Explain the first ionization energy for rubidium

Explain the first ionization energy for rubidium is +403.0 kJ/mol. Explain how much energy would be necessary to convert 17.1 g of gaseous rubidium to its gaseous +1 monatomic ion at constant temperature

  Explain unknown solid mixture containing benzoic acid

Georgia weighed 5.95 g of an unknown solid mixture containing benzoic acid, copper (II) sulfate, and sand. She added 15 mL of acetone to her sample and dissolved one of the components of the mixture. Which component dissolved in the acetone

  Explain what is the molar solubility of cr(oh)3

The Ksp for Cr(OH)3 is 1.6 x 10?30. What is the molar solubility of Cr(OH)3 in a buffer solution with a pH of 11.5. Hint: what is the balanced reaction

  Evaluate the equilibruim concentration of nh3 and h2s

At 218 C, Kc=1.2x10-4 for the equilibruim NH4HS->NH3 +H2S. Calculate the equilibruim concentration of NH3 and H2S if a sample of solide NH4HS is placed in a closed vessel and decomposes until equilibruim is reached

  Which is the stronger base

Which is the stronger base, HSO4- or H2O? b. Which is the stronger base, H2O or OCl-?

  Explain earth''s current atmospheric load of co2

If all of these tires were burned with complete efficiency, by how much (in tonnes) would Earth's current atmospheric load of C02 increase

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