Consider firms per-period production process

Assignment Help Business Economics

Reference no: EM131095948

Consider a firms per-period (e.g., hourly) production process. If it employs 1 unit of labor, then 5 units of output will be produced; if it employs 2 units of labor, then 12 units of output will be produced; and if it employs 3 units of labor, then 20 units of output will be produced. It follows that:

a. total output is increasing at an increasing rate and the marginal product of labor is increasing

b. total output is increasing at an increasing rate and the marginal product of labor is decreasing

c. total output is increasing at an increasing rate and the marginal product of labor is constant

d. total output is increasing at a decreasing rate and the marginal product of labor is decreasing

e. total output is increasing at a decreasing rate and the marginal product of labor is increasing

f. total output is increasing at a decreasing rate and the marginal product of labor is constant

Reference no: EM131095948

Questions Cloud

Which will have a larger impact on the money multiplier : Suppose the currency-to-deposit ratio is 0.2, the excess reserve-to-deposit ratio is 0.05, and the required reserve ratio is 0.1. Which will have a larger impact on the money multiplier: a rise of 0.05 in the currency ratio or in the excess reserves ..

Excel spreadsheet file for the calculations and explanations : Review "Benchmark Assignment - Data Analysis Case Study" and "Benchmark Assignment - Data Analysis Case Study Data"for this topic's case study, evaluating operations for a local restaurant.

Currency ratio or in the excess reserves ratio : Suppose the currency-to-deposit ratio is 0.2, the excess reserve-to-deposit ratio is 0.05, and the required reserve ratio is 0.1. Which will have a larger impact on the money multiplier: a rise of 0.05 in the currency ratio or in the excess reserves ..

Money multiplier of increase in currency-to-deposit ratio : Compute the impact on the money multiplier of an increase in the currency-to-deposit ratio from 10 percent to 12 percent when the reserve requirement is 8 percent of deposits, and banks’ desired excess reserves are 3 percent of deposits.

Consider firms per-period production process : Consider a firms per-period (e.g., hourly) production process. If it employs 1 unit of labor, then 5 units of output will be produced; if it employs 2 units of labor, then 12 units of output will be produced; and if it employs 3 units of labor, then ..

Enforceable contract under the common law : John offers to sell Mary his refrigerator for $1000 cash payment due by April 1 2016. The refrigerator to be tendered to Mary upon payment. Mary says to John that she agrees. Is this a legally enforceable contract under the common law? Would the Stat..

Simulate the model for specifications of parameter values : Generate data from the Roy model in which the log of the skills are joint normally distributed. Simulate the model for several different specifications of the parameter values

Provide enough evidence to reject the null hypothesis : You are analyzing data for a research project. You have a two-sided two-sample t-test with the following hypotheses being tested: Which of the following results for the confidence interval does not provide enough evidence to reject the null hypothesi..

Suppose the government increases lump sum taxes : Suppose the government increases lump sum taxes.

User Account

All Pages