What is marginal product labor and marginal revenue product

Reference no: EM13213737

Q= -3 + 8.5L - 2L^2 Q is toys per hour, L is workers employed per hour. Charges $20 per toy. Workers paid $10 hour. Firm has $50 fixed costs per hour. What is marginal product labor? (MPL) What is marginal revenue product?

Reference no: EM13213737

Questions Cloud

Marketers use public relations : Marketers use public relations to:

Importance of science of geology to us as a civilization : The importance of the science of geology to us as a civilization. Provide at least two examples. For example, the ability to predict earthquakes and other disasters, or understanding mining and the use of natural resources

Explain aqueous solution of the weak inorganic acid ha : A 0.150 M aqueous solution of the weak inorganic acid HA was prepared from the pure compound, and three 50.0 mL aliquots were transferred to 100.0 mL volumetric flasks.

One goal of mexico in its 1846-1848 war : One goal of Mexico in its 1846-1848 war with the US was to

What is marginal product labor and marginal revenue product : Q= -3 + 8.5L - 2L^2 Q is toys per hour, L is workers employed per hour. Charges $20 per toy. Workers paid $10 hour. Firm has $50 fixed costs per hour. What is marginal product labor (MPL) What is marginal revenue product

Professional development brown bag : You've been assigned to provide a presentation at your company's next professional development "brown bag." Build a PowerPoint presentation that will address each of the nine Project Management Areas of Knowledge, the management processes that make u..

What would happen to amount of drug use and amount of theft : If we assume most of the crime results from drug addicts stealing to buy drugs, what would happen to the amount of drug use and the amount of theft if we increased education programs to inform potential drug users about the dangers of drugs

How sam will have the accumulation at the end of year : Sam riddle religiously invest $1,000 a month in a retirement account that pays 12% interest compounded monthly for the first 5 years and 9% interest compounded monthly for the next 10 years. The accumulation Sam will have at the end 15 years.

Diverse teams utilize diverse opinions and approaches : Our text discusses the conclusion of research: diverse teams utilize diverse opinions and approaches and are generally more effective in their accomplishment of tasks.

User Account

All Pages