Question

suppose that you have 15 workers, and the average output per worker (average product) is 33....

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?
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
suppose that the average output per worker is 23.7 units. if a new worker produces 19...
suppose that the average output per worker is 23.7 units. if a new worker produces 19 units: a) is the marginal product of labor higher or lower than the average product? b) will the average output per worker (average product) rise or fall when you higher a new worker?
When Brenda’s Pastry employs three workers, total output is 6 dozen pastries per hour.  After Brenda hires...
When Brenda’s Pastry employs three workers, total output is 6 dozen pastries per hour.  After Brenda hires a fourth worker, the number of pastries produced increases to 7 dozen per hour.  Which of the following is true about the marginal product (MP) and average product (AP) of labor for Brenda’s Pastry? Group of answer choices Because the MP of the fourth worker is greater than the AP of three workers, AP must fall when the fourth worker is hired Because the MP...
The Per-worker production function shows the relationship between the amount of output per worker and capital...
The Per-worker production function shows the relationship between the amount of output per worker and capital per worker. This curve is not linear but increases at a decreasing rate. Why? If a worker has more and more capital, the additional capital will not be used as well as the previous capital, resulting in a smaller increase in output than previous units of capital. Too much capital will result in inefficient production If a worker has more capital, that worker will...
Suppose when a firm hires more workers, it does not get as much extra output from...
Suppose when a firm hires more workers, it does not get as much extra output from those workers as it did. This is an example of what? Diminishing marginal capital. Diminishing Marginal Product. Diminishing average product. Diminishing variable cost. Using the information of the last question, how would the introduction of UBER, a ride share firm, affect the equilibrium? It wouldn't since the medallions are in fixed supply. It would cause demand to rise putting upward pressure on price. It...
   Number of Workers      Output per Hour                0               &n
   Number of Workers      Output per Hour                0                                                       0                                1                                                       7                                  2                                       12                                 3                                       15                                 4                                       17                                  5                                       18                          According to the table above, if the product price is $5 and the wage rate is $10 per hour, how many workers should this firm hire? a. 3 b. 5 c. 4 d. 1 e. 2
1.?Ten workers in a factory produce 50 units of output per hour. With new technology the...
1.?Ten workers in a factory produce 50 units of output per hour. With new technology the same workers are able to produce 60 units of output per hour. Find the original and new productivity per worker for each hour. Find the rate of increase in productivity. (20 pts) 2.?Estimate the gain in average standard of living for each of the following. (15 pts) ?Real GDP is growing at 3.5% a year while population is growing at 1.5% a year. ?Real...
1) Luigi's Pizzeria is considering to hire two more workers, Jessie and Kathy. Suppose that the...
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...
Suppose you have a team of two workers: one is a baker and one is a...
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.
8 workers altogether will produce 80 units of output, hiring the 9th will increase total production...
8 workers altogether will produce 80 units of output, hiring the 9th will increase total production to 99. The marginal product of the 9th worker is 19 90 We cannot tell 80 2) cost of resources you do not own (you have to pay to obtain them) is called Group of answer choices Economic profit Implicit Cost Total Cost Explicit Cost 3) he curve(s) that are U-Shaped is (are) Group of answer choices Average total Cost Average variable cost Average...
Question 201 pts You have a factory that is producing maximum production (maximum total product). A...
Question 201 pts You have a factory that is producing maximum production (maximum total product). A friend of yours asked you to work for free to get some experience It is difficult to take a decision because we do not have enough information ou hire him because he is working for free You hire him because his marginal product is positive You will not hire him because his marginal product will be negative Question 211 pts If the extra worker...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT