Diminishing marginal returns begins with which employee

Assignment Help Business Economics
Reference no: EM13734621

Number of Workers Total of Pots Produced Per Day

0 0

1 6

2 13

3 18

4 21

5 23

6 22

a. Diminishing marginal returns begins with which employee?

b. Suppose a pot sells for $20 each. What is the marginal revenue product of labor of the second worker?

c. If wages are $50 per day and pots sell for $20 each, how many potters will the firm hire?

d. Assuming pots are $20 each graph the labor demand curve (in current dollars).

Reference no: EM13734621

Previous Q& A

  Established the office of window safety

Tammy Hall is the mayor of a large U.S. city. She has just established the Office of Window Safety. Because windows sometimes break and spray glass shards, every window in the city will now have to pass an annual safety inspection.

  Create a presence so that the firms message

Create a presence so that the firm's message and sponsorship will be remembered. Provide a souvenir so that people will remember your event and company

  Write summary in which you describe johnson great society

Write two page summary in which you describe Johnson's Great Society.

  Importance of the M-Pesa to the rising economic growth

Given the importance of the M-Pesa to the rising economic growth of the Kenyan economy, why would Kenyan government take 10% tax off the employees pay check?

  Prepare a consolidation work­sheet

Prepare a consolidation work­sheet. Balfour Corporation acquired 100% of Tobac Inc., a foreign corporation, for 33,000,000 FC.

  Explian the special considerations for pitching a blogger

Follow-up and Other Considerations: Describe your follow-up plan. Discuss the special considerations for pitching a blogger

  Organization and management of a health care facility

Your duties at 21st Century Solutions Health Care Hospital require you to interface with many different professionals, including physicians, nurses, and allied professionals in various areas of health care.

  Developing the project plan

Developing the Project Plan and Determining Critical Path, Based upon the details in the WBS and the project case, determine which tasks need to be completed first and which tasks are dependent upon other tasks to be completed prior to starting.

  Same interest rate

A sum of money Q will be received 6 years from now. At 5% annual interest, the present worth of Q is $60. At the same interest rate, what would be the value of Q in 10 years?

  What contributions did etruscans make to the roman republic

What contributions did the etruscans and the early Roman monarchy make to the Roman Republic.

Reviews

Write a Review

 

Similar Q& A

  1 what does gross domestic product gdp tell us how did gdp

1. what does gross domestic product gdp tell us? how did gdp change from 2008? what caused these changes? what is real

  Four elements of the marketing mix to influence

Explain how did the marketer of which product you purchased direct each of those four elements of the marketing mix to influence your purchase?

  Definition of a price maker is a firm with some power

The definition of a price maker is a firm with some power to set the price because the demand curve for its output slopes downward which in effect means those firms with a downward sloping demand curve have some market power.

  Would boeing margin likely rise or fall if the yen

Would Boeing's margin likely rise or fall if the yen then depreciated and competitor prices were unchanged? Why?

  What is the short-run market supply curve

Assuming that all of each firm's $16 fixed cost is sunk, what is a firm's short-run supply curve?. What is the short-run market supply curve? c. Determine the short-run equilibrium price and quantity in this industry.

  Demand for bread will fall if more americans go

The demand for bread will fall if more Americans go on a low diet. The cost of bread will fall due to the decrease in the demand for bread.

  Qconsider a market with a demand function q 20 - p

q.consider a market with a demand function q 20 - p currently there are ten firms operating. each firm has the

  Q1 predict what would happen to the labor force

q.1. predict what would happen to the labor force participation rate of women if wages for women decreased. explain.2.

  Qconsider two goods that are perfect complements for

q.consider two goods that are perfect complements. for instance car frames and tires. an individual likes owning cars

  Us government determines that cigarette smoking

Suppose that the US government determines that cigarette smoking creates social cost not reflected in the current market price an equilibrium quantity of cigarettes.

  Explain higher demand has affected equilibrium wage

Explain how do you think higher demand has affected equilibrium wage. In which direction do you think labour supply and demand shifted.

  Discuss how the distribution of income among various groups

Discuss how the distribution of income among various groups of income earners have changed in this country during the past 50 years. In your opinion, do we need to initiate any policy to address the distribution of income?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd