Please help me with these couple multiple choice. It would be very helpful for my overall assignment. Please do not ask me to send you an email outside of Course Hero or try to get me to use a service outside of Course Hero. This has been happening more and more :( Thank you in advance for your help! Alex
A firm engaging in efficient production, using current technology, ________ produce its current
level of production with ________ inputs.
cannot, more Consider the production process represented by the total product curve (TP1), the average
product of labor curve (AP1) , and the marginal product of labor curve (MP1) illustrated in the
If each worker produces an extra unit of output, how do total product, the average product of
labor, and the marginal product of labor vary with labor? Plot these curves in the graph.
1.) Graph the firm's new total product curve for one through four workers. Label this curve 'TP2
2.) Graph the firm's new average product curve for labor for one through four workers. Label
this curve 'AP2.'
3.) Graph the firm's new marginal product curve for labor for one through four workers. Label
this curve 'MP2.'
Carefully follow the instructions above, and only draw the required objects. The below table shows the short - run production function for Albert's Pretzels. The marginal
product of labor for the third worker is
D. not known from the information provided.
30 Mark launders his white clothes using the production function
q=3B+G where B is the number of cups of Clorox bleach and G is the number of cups of a generic
bleach, where Clorox bleach is three times as potent.
Graph an isoquant for output of q=21. Label this line 'isoquant'.
Carefully follow the instructions above, and only draw the required object.??
What is the marginal product of B?
The marginal product of B is ______. (Enter a numeric response using an integer.)
What is the marginal rate of technical substitution at each point on an isoquant?
The marginal rate of technical substitution is ______ along the isoquant. The table in the below figure shows the levels of output resulting from different
levels of inputs. Returns to scale are greatest at which level of output?
B. 100?200 units
There is insufficient information to answer the question.
600 Capital (K)
15 Labor (L)
30 Over a five?year span, the ABC Co. reduced the amount of labor it hired. At the
same time, the marginal productivity of labor increased. Which of the following
COULD explain this observation?
the law of diminishing marginal returns
labor saving technical change
All of the above.
This question was answered on: Sep 18, 2020
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