Emily makes cartoons whioch she sells to her classmates

Assignment Help Macroeconomics
Reference no: EM1326419

Calculating the Marginal Product of Labor

Emily draws cartoons that she sells to her classmates. Her average product of labor is five cartoons per hour if she works for one hour, four per hour, if she works for two hours, three per hour if she works for 3 hours, and two and a half per hour if she works for four hours. What is her marginal product of labor at one, two, three, and four hours of work?

Reference no: EM1326419

Questions Cloud

Leaders change strategy if change in feedback : How should leaders change strategy if feedback indicates a change is in order?
What factors should weighed in the creation of a new ais : What factors should be weighed in the creation of a new AIS - Can a new system meet the needs of all users?
Evaluating the case : When the developer learns what Alice has done, he sues her for breach of contract. What result? Explain fully. How would your answer differ, if at all, had the developer paid Alice $5,000 at the time she agreed to hold the offer open? Why?
How standards are intended to create unity : standard issued by either the International Telecommunication Union.It was also stated that "Although standards are intended to create unity, they can have the opposite effect".
Emily makes cartoons whioch she sells to her classmates : Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour
Determining changing ethics : Pick two contemporary issues around which ethics have changed due to external and social elements. Discuss how they have changed, what was required to make the change and how the change has affected
Mmajor successes and challenges of ceo as a leader : A brief summary of major successes and challenges that have contributed to his knowledge and skill as a leader.
Coding standards and testing : Coding Standards and Testing - Is testing a distinct phase of the project, or does it come into play during other phases and Please describe. How can tools help the quality and effectiveness of testing?
Explain the difference between analog and digital : explain the difference between Transmission Control Protocol (TCP) and Internet Protocol (IP).

Reviews

Write a Review

Macroeconomics Questions & Answers

  Calculation of profit maximizing output level

What is the profit maximizing output level for the typical firm? (Hint: Calculate MC for each change in output, then find the equilibrium price, and calculate MR for each change in output)

  Compute the insurance amount against losses

Suppose a risk-averse consumer has an initial wealth of $5,000 and a utility function U(M) √M..  He faces an 80 percent chance of losing $4000, and a 20 percent chance of losing $0.

  Explanation for human development indicator

Discuss briefly what you think the way in which the HDI is constructed. (Briefly means no more than five lines of text. Excesses are severely penalised.)

  Elasticity of demand and marginal revenue

Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...

  Computation of elasticity of demand

What elasticity of demand did the Village Administrator seem to assume here in his prediction for 1970- 1971? Compute the approximate elasticity of demand (round off, two decimal places is close enough).

  Determinations of minimum wages in perfectly competitive

Briefly discuss and illustrate the circumstances under which the minimum wage would (1) not lead to unemployement, amd (2) not cause a reduction in the total earnings of low-wage workers who are still employed.

  Profit maximization decisions of firm

An entrepreneur plans to convert a building she owns into a video-game arcade.  Her main decision is how many games to purchase for the arcade.

  Marketing strategy of brokerage houses

During the late 1990s, several mergers among brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firm's customers.

  Elucidate tools are used to accomplish conscious fiscal

Elucidate tools are used to accomplish conscious fiscal policy.

  Determine optimal bundle pricing strategy

You are the manager of a local sporting goods store. Given the reservation prices, determine your optimal bundle pricing strategy.

  Computing canadian and south korean opportunity cost

Assume that there're 10 million workers in Canada and South Korea and each worker in Canada and South Korea can manufacture four cars per year.

  Computation of cross price elasticity of demand

For each of the following pairs of goods, would you expect the cross-elasticity of demand to be positive or negative? Large (in absolute value) or small? Defend your answers:

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