What is the production function for hammers

Reference no: EM13690288

Suppose college graduate earn$25 an hour and high school graduates earn $15 an hour. Suppose too that the marginal product of college graduate at Jonson Tools is five hammers per hours, while the marginal product of high school graduates is four hammers per hour. (Regardless of the number of each type of worker employed).

What is the production function for Hammers?

Reference no: EM13690288

Questions Cloud

Data reveal how much each consumer is willing to pay : The following data reveal how much each consumer is willing to pay for an Alaskan cruise: Amy $900 Ed $2,000 Bob $1,100 Gigi $1,300 Carol $1,500 Hugo $1,800 Eduardo $400 Isabelle $1,500

Happen to the equilibrium price and quantity of crude oil : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

What is the production function for hammers : Suppose college graduate earn$25 an hour and high school graduates earn $15 an hour. Suppose too that the marginal product of college graduate at Jonson Tools is five hammers per hours, while the marginal product of high school graduates is four hamm..

Service sector outputs could be expected to increase : Service sector outputs could be expected to increase in price less than industrial sector outputs as an economy grows. Labor productivity rises as the amount of capital available to workers increases. A superior level of technology is an important re..

Large amounts those who possess general human capital : Why are people who possess specific human capital less likely to change jobs, other things being equal, than those who possess general human capital? Does this imply that people who possess large amounts of specific human capital will never migrate? ..

Consider an individual with utility function : Consider an individual with utility function U=(C1)3/4(C2)1/4 who is alive for two periods and has an income stream(m1, m2). At some point the government decides to intervene in the economy:

Mildred can purchase a municipal bond with a par value : Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

User Account

All Pages