Discuss value of marginal productivity

Assignment Help Managerial Economics

Reference no: EM1372098

Suppose a company employs 10 workers and pays each $15 per hour. Further assume that the MP of the 10th worker is five unit of output and that the price of the output is $4. In the short run should the firm

a. hire additional workers
b. reduced the amount of workers employed
c. continue to employ 10 workers

Reference no: EM1372098

Questions Cloud

Theory of human relations : Consider the following scenario: You're a plant foreperson at a highly-productive and competitive factory. Your manager approaches you with a concern about last month's productivity for the unit for which you are responsible.

Explain about supply chain strategies : Cite industry examples for at least two of the six Supply Chain strategies introduced in class and a brief description is expected for each example.

Write program which translates letter grade into grade : Write a C++ program which translates the letter grade into a number grade. Letter grades are A B C D F, possibly followed by + or -. Their numeric values are 4, 3, 2, 1, and 0.

Develop a bipolar transistor amplifier with a voltage gain : The aim of this experiment is to develop a bipolar transistor amplifier with a voltage gain of minus 25. The amplifier must accept input signals from a source impedance of 1 kW and provide an undistorted output amplitude of 5 V when driving a 560..

Discuss value of marginal productivity : Suppose a company employs 10 workers and pays each $15 per hour. Further assume that the MP of the 10th worker is five unit of output and that the price of output is $4.

Concept of the learning organization : Based upon the concept of the learning organization, provide (1) a detailed example of a company that failed to adapt to a changing environment and (2) a detailed example of one that succeeded in adapting to a changing environment.

Rules for short and long run : There is some information you are given, and on the basis of the information, you are asked to make a decision. Now here are some definitions

Design state transition diagram for member state : Design a state transition diagram which explains typical member state and how they change based on specific actions and events.

Hofstede dimensions of cultural differences : Select two of Hofstede's dimensions of cultural differences and give an example of how you have observed others in the workplace displaying the two dimensions you selected.

User Account

All Pages