Marginal product is above the average product of labor

Assignment Help Business Economics
Reference no: EM13837845

Explain in words why an employer would never want to stop increasing the quantity of labor employed when the marginal product is above the average product of labor.

Reference no: EM13837845

Questions Cloud

Marginal tax rate on the federal personal income tax : Suppose a candidate who runs on a platform of soak the rich wins the 2012 presidential election. After being elected, he or she persuades Congress to raise the top marginal tax rate on the federal personal income tax to 65%.
Suppose that the economy improves and the crime rate : Suppose that the economy improves and the crime rate in West Philadelphia drops, so that the marginal product and average product of a group of 100 police officers is now 55 arrests per hour for any number of police officers. What is the optimal allo..
Describe the significant factors underlying the issue : Describe the significant factors underlying the issue, Explain and show why they are important to understanding the issue, Refer to research you have done to support your reasoning.
Contemporary issue regarding abnormal psychology : For this discussion, you will enter into another conversation on an ongoing controversy and contemporary issue regarding abnormal psychology. Specifically, are there psychological syndromes and symptoms that appear only in certain cultures
Marginal product is above the average product of labor : Explain in words why an employer would never want to stop increasing the quantity of labor employed when the marginal product is above the average product of labor.
What is the area of the square : What is the area of the square
Explain the soft systems model for change : Explain the Soft Systems Model for Change and when you would use it as a leader. What concept or element of change management do you think you will remember and use in your future business career?
Describe the data collection process for each study : Describe the data collection process for each study. What methods were used to collect the data? Surveys? Observations? Interviews? Be specific and discuss the instruments or measures fully-what do they measure? How is the test designed
Instead of partnering with local company in a joint venture : Instead of partnering with a local company in a joint venture, P&G is building its own distribution network. What type of entry strategy is this, and are there any other entry strategies that would be appropriate for P&G to use in this situation?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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