Find what is the marginal product of persons

Assignment Help Econometrics

Reference no: EM13213830

Consider the production of holes. To dig a hole, it takes one person (P) and one shovel (S). The total number of holes dug is given by the production function h=f(P,S)=min(P,S). If you currently have 2 persons and 4 shovels, what is the marginal product of persons?

Reference no: EM13213830

Questions Cloud

State the order of increasing polarity of the compounds : What is the order of increasing polarity of the compounds: benzophenone, trans-stilbene, 2-naphthol, benzoic acid

Determine what is the marginal productivity of labor : Consider the production of textiles. To make textiles, it takes cotton (C, measured in pounds) and it takes labor (L, measured in man-hours). The total yards of fabric (F) produced is given by the production function F=L*(C^.5). If you currently h..

Can you help mr. jackson develop a financial plan : Can you help Mr. Jackson develop a financial plan? Do you think his growth plan is feasible? Specific calculations are not necessary, but you should describe any specific calculations one may use to assist Mr. Jackson.

Computes the molarity of a calcium carbonate : Calculates the molarity of a calcium carbonate standard solution that contains 0.2430 grams of calcium carbonate dissolved in a total of 250.0 mL

Find what is the marginal product of persons : Consider the production of holes. To dig a hole, it takes one person (P) and one shovel (S). The total number of holes dug is given by the production function h=f(P,S)=min(P,S). If you currently have 2 persons and 4 shovels

Calculate the net present value of the proposed change : Calculate the net present value of the proposed change, that is, the net benefit or net loss in present vaklue terms of the proposed changeover.

What assumption do you need to make in comparing projects : you are asked to decided between two projects based on annual equivalent worth A B -$10,000 -$12,000 $6,000 $7,000 $5,000 $8,000 $4,000 a) what assumption do you need to make in comparing these mutually exclusive revenue projects

Explain what kind of flask is used to prepare the solution : should be used to make 2.00 L of 0.0500 M solution? What kind of flask is used to prepare this solution?

Determine the useful life infinite interest rate : a city has decided to build a softball complex and the city council has already voted to fund the project at the level of $800,000 (initial capital investment) the city engineer has collected the following financial information for the complex pro..

User Account

All Pages