Illustrate what is the average labor productivity
Course:- Business Economics
Reference No.:- EM1349654

Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Business Economics

Harrison, Carla and Fred are housepainters. Harrison and Carla can paint 100 square feet per hour using a standard paintbrush, and Fred can paint 80 square feet per hour. Any of the three can paint 200 square feet per hour using a roller.

a. Assume Harrison, Carla and Fred have only paintbrushes at their disposal. Illustrate what is the average labor productivity, in terms of square feet per painter-hour, for the three painters taken as a team? Assume that the three painters always work the same number of hours.

b. Repeat part a for the cases in which the team has one, two three or four rollers available. Are there diminishing returns to capital?

c. An improvement in paint quality increases the area that can be covered per hour (by either brushes or rollers) by 20 percent. How does this technological improvement affect your answers to part b? Are there diminishing returns to capital? Does the technological improvement increase ore reduce the economic value of an additional roller?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Name some goods or services that are traded internationally. Name some goods or services that are not traded internationally. What are some differences between goods and servi
Describe Illustrate what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, illustrate what will happen t
If stakeholders are wrestling with implementing a price increase for some or all of their products in the healthcare industry. What are some factors they should consider? How
As certain case studies seem to suggest, it is possible for non-violent protest to be effective in authoritarian countries for the following reasons: 1) non-violence is capabl
Discuss statistics on the different types of insurance held by the U.S. population. Emphasize the different Medicare plans: Part A, Part B, and Part D and the State Children
Find out the curve for MR and use it to find the monopoly output and price. Calculate the output of a perfectly competitive market if the MC is the same as the market supply.
The steady-state rate of unemployment is U/L = s/(s+f). Suppose that the unemployment rate does not begin at this level. Show that the unemployment rate will evolve over time
Consider an economy characterized by the following: C = $3.5 trillion I = $1.8 trillion G = $2 trillion T = $2 trillion NX = -$1 trillion mpc = .75 d = 10 x=5 λ=1 r = .01 f =.