Question

Suppose you have a team of two workers: one is a baker and one is a chef. Explain why the kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.

Answer #1

The kitchen will be able to produce more meals in a given period of time when each worker specializes in what they do best because of division of labor and theory of comparative advantage.

When each worker produces the good in which he specializes in,then they will be able to produce it efficiently in less time than when they try to do everything which will lead to wastage of time and underproduction.

Specialization leads to economies of scale and lowers production costs so both baker and chef will be able to produce more goods in the field they specializes in at a lower per unit cost than when they try to do each other work.

Suppose you observe two workers, one is clearly more productive
than the other and you wonder why.
Group of answer choices
Having more capital could explain the productivity
differences
The more productive worker could have access to more natural
resources or raw materials.
The more productive worker may have more skills.
All of these answers

suppose that you have 15 workers, and the average output per worker
(average product) is 33. the 16th worker will produce 73 more
units. will the average product rise or fall if you hire the 16th
worker?

In January, General Motors laid off 2,000 workers. Suppose you
are hired as a consultant to estimate the impact of these layoffs
on the number of cars that GM will be able to produce this year. To
do so, you need to estimate the marginal productivity of workers at
GM. You go to the company’s web page and learn that the company
pays the average worker $140,000 per year and is able to sell the
average car for $20,000. If...

. Suppose prospective clerical workers fall into one of two
categories in equal numbers: high productivity (HP) and low
productivity (LP). An HP worker's value to the firm is $30,000 per
year; an LP worker's value is $20,000 per year. A firm hires
workers who stay an average of five years.
A. At the time of hiring, the firm cannot distinguish HP and LP
workers. In this case, what wage will it offer its new hires? What
two word phrase...

Imagine you have some workers and some handheld computers that
you can use to take inventory at a warehouse. There are diminishing
returns to taking inventory. If one worker uses one computer, he
can inventory 150 items per hour. Two workers sharing a computer
can together inventory 200 items per hour. Three workers sharing a
computer can together inventory 250 items per hour. And four or
more workers sharing a computer can together inventory fewer than
260 items per hour....

Imagine you have some workers and some handheld computers that
you can use to take inventory at a warehouse. There are diminishing
returns to taking inventory. If one worker uses one computer, he
can inventory 125 items per hour. Two workers sharing a computer
can together inventory 175 items per hour. Three workers sharing a
computer can together inventory 225 items per hour. And four or
more workers sharing a computer can together inventory fewer than
235 items per hour....

1) Luigi's Pizzeria is considering to hire two more workers,
Jessie and Kathy. Suppose that the market wage for another worker
is $80 per day. Jessie would generate a marginal product of 10
pizzas, while Kathy would generate a marginal product of 9 pizzas.
If pizzas sell for $9 each, what should Luigi do?
a) Luigi should not hire either additional worker.
b) Luigi should hire only the first additional worker,
Jessie.
c) Luigi should hire only the second additional...

England and Scotland both produce scones and sweaters. Suppose
that an English worker can produce at most 40 scones per day or at
most 2 sweaters per day. Suppose that a Scottish worker can produce
at most 20 scones per day or at most 4 sweaters per day.
a. Find the opportunity cost of producing one scone in terms of
sweaters for each country. In other words, how many sweaters each
country gives up to produce one scone?
b. Without...

Suppose two countries, Farmland and Techland, use only capital
and labor to produce two goods, Grain (G) and Cars (C). Farmland
has 2,050 units of capital and 916 units of labor, and Techland has
816 units of capital and 270 units of labor. In Techland, there are
366 units of capital and 135 units of labor employed in the Grain
industry. In Farmland, there are 926 units of capital and 618 units
of labor employed in the Grain industry.
A. ...

An economy with better technology is likely to:
A) have lower levels of human capital.
B) use more labor than capital.
C) achieve higher productivity.
D) have less capital stock.
184) An aggregate production function:
A) shows the relationship between a country's GDP and its
factors of production.
B) shows various quantities of two goods that can be produced at
a given cost.
C) shows various combinations of labor and capital that can be
used to produce a particular good....

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