Diminishing marginal productivity states

Assignment Help Managerial Economics
Reference no: EM1372181

The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input, eventually additional output one gets from that additional input is going to fall?

Give an example from your work or personal life of the law of diminishing marginal productivity and how it might affect cost.

 

Reference no: EM1372181

Questions Cloud

Describe an industry that would meet conditions of perfect : Describe an industry that would meet conditions of a perfectly competitive industry and how individual firms would respond to an increasing market demand for product.
Price change on total cost, total revenue and total profit : Wyandotte Chemical Corporation sells many chemicals to automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15 per gallon.
Create communication system for transmission : Create communication system (block diagram) which will permit transmission of these 4 sources over  telephone channel using: Time division multiplexing by using PCM, suppose 8-bit samples.
How progressive is congressional black caucus : Patrick Cockburn Iraq Study Group's Cautious Appraisal Leutisha Stills Just How Progressive is Congressional Black Caucus.
Diminishing marginal productivity states : The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input,
Hould i burn my leaves or haul m into woods : Sometimes self-interested behaviour in markets do not contribute to broader social objectives Example: Should I burn my leaves or haul m into woods.
Website review for hrsa : Search the Internet to identify a Web site intended as a resource for human services and analyze the site based on evaluation criteria as stated in the above tutorial, or from another reliable source.
Relationship between productivity and the wages earned : Determine what is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?
Compute devices accommodated by t-type tdm line : Determine no. of foll. devices that could be accommodated by T1-type TDM line if 1% of line capacity is reserved for synchronization purposes.

Reviews

Write a Review

Managerial Economics Questions & Answers

  Linear programming problem

Linear programming is a mathematical technique used to determine the optimal solutions to certain specific problems.

  Demand, supply and the market equilibrium

The article study for the demand, supply and the market equilibrium has been discussed. The article that has been review was published on August 2012.

  Supply and demand in professional sports

Draw the individual cost curves on one graph: marginal cost, average total cost, average ?xed cost, and average variable cost. Place costs ($) on the y-axis and quantity (Q) on the x-axis.

  Explain whether the firm will make economic profit

Explain whether the firm will make economic profit, In the short run and In the long run.

  Determine the official measure of the deficit

Determine the official measure of the deficit

  Coordination of the activities of a business

The organization and coordination of the activities of a business in order to achieve defined objectives.

  What is the profit maximizing number of gizmo widgets

What is the profit maximizing number of Gizmo Widgets that should be introduced? Be sure to account for the fact that Gizmo Widgets displace other kinds of widgets. Again, be sure you provide a brief explanation of your approach/reasoning.

  Determine autocorrelation function of a rectangular pulse

Prepare the sketch the Fourier transform of a rectangular pulse of amplitude 10 V and width 0.1 second that is centered on the zero time axis. Determine the autocorrelation function of a rectangular pulse.

  Managerial economics assignment

Carry out an analysis from the standpoint of both EMV and expected utility to establish Jeremiah’s best course of action, including a consideration of his bidding strategy with regard to the auction.

  Prepare a marginal cost analysed income statement for 2014

Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.

  Prepare a marginal cost analysed income statement for 2014

Prepare a Marginal Cost Analysed Income Statement for 2014 from the above data to identify total and individual medical procedure contributions and profits.

  Solve managerial economics questions

MGMT 3306: Solve the assignment problems, 1. Please answer the assignment questions in this docx file and save once you’re satisfied. Assignment 3covers the lectures slides for Week 6.

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