Question

How does Apple Inc. product function related to its marginal product of labor?

How does Apple Inc. product function related to its marginal product of labor?

Homework Answers

Answer #1

marginal product of labor is concerned with productivity of labor and their production cost. Apple Inc. hire the labor to get more productive output where are paying wages for the same and they will do the same until they are receiving the Marginal revenue equal to wage they pays to worker. apart they charge the price in the market depends on the technology factors used in production process, labor combined with other raw material that would bring more output. and changes in the price of substitute and complimentary goods. will also effect the marginal product of labor and this value also affect the value of marginal; product

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
How is a firm’s production function related to its marginal product of labor? How is a...
How is a firm’s production function related to its marginal product of labor? How is a firm’s marginal product of labor related to the value of its marginal product? How is a firm’s value of marginal product related to its demand for labor? Provide specific examples to support your answers.
A firm's marginal product of labor is 4 and its marginal product of capital is 5....
A firm's marginal product of labor is 4 and its marginal product of capital is 5. If the firm adds one unit of labor, but does not want its output quantity to change, how many more or less units of capital the firm should use? A firm has the production function ? = ?(?1, ?2) = ?10.5 ?22. Does this firm have an increasing or decreasing return to scale? Why? Does this firm have increasing or decreasing marginal product for...
Consider the following scenario: the firm estimates that currently, its marginal product of labor is 40,...
Consider the following scenario: the firm estimates that currently, its marginal product of labor is 40, while the marginal product of capital is 150. The firm pays $40 in the rental price of capital and $10 in wage. Can this firm improve its profits by adjusting its labor and capital combination while holding the overall costs of production constant? And if yes, how? (Assume the standard assumptions about the production function, i.e. diminishing marginal products).
In a Leontieff production function, the marginal product of labor is always zero. The same is...
In a Leontieff production function, the marginal product of labor is always zero. The same is true for the marginal product of capital. Ture or False
(a) Suppose the marginal product of labor is 8 and the marginal product of capital is...
(a) Suppose the marginal product of labor is 8 and the marginal product of capital is 2. If the wage rate is $4 and the price of capital is $2, then in order to minimize costs should the firm hire more workers or rent more capital? Please explain. (b) Suppose the production function is given by Q = min{K, L}. How much output is produced when 10 units of labor and 9 units of capital are employed? Please explain.
In the Cobb-Douglas production function : the marginal product of labor (L) is equal to β1...
In the Cobb-Douglas production function : the marginal product of labor (L) is equal to β1 the average product of labor (L) is equal to β2 if the amount of labor input (L) is increased by 1 percent, the output will increase by β1 percent if the amount of Capital input (K) is increased by 1 percent, the output will increase by β2 percent C and D
Suppose a firm’s production function is given by Q = L1/2*K1/2. The Marginal Product of Labor...
Suppose a firm’s production function is given by Q = L1/2*K1/2. The Marginal Product of Labor and the Marginal Product of Capital are given by: MPL = (K^1/2)/2L^1/2 & MPK = (L^1/2)/2K^1/2) a) (12 points) If the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output Q = 10?...
1) The marginal product of labor in the production of oatmeal raisin cookies is 75 cookies...
1) The marginal product of labor in the production of oatmeal raisin cookies is 75 cookies per hour. The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/10. What is the marginal product of capital? (5 pts) 2) A firm has a fixed production cost of $10,000 and a constant marginal cost of production of $200 per unit produced. What is the firm’s total cost function? What is its average cost function? (8...
Why does firm optimization imply that the marginal product of labor (MPN ) is equal to...
Why does firm optimization imply that the marginal product of labor (MPN ) is equal to the wage rate (w)?
Explain the notion of the marginal product of labor and how it affects wages.
Explain the notion of the marginal product of labor and how it affects wages.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT