+1-415-670-9189
info@expertsmind.com
Illustrate what is the average labor productivity
Course:- Business Economics
Reference No.:- EM1349654




Assignment Help
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
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
In 2015, the U.S. federal government increased government spending (G) by $56 billion. This question has you both illustrate and explain the short- and long-run effects of the
The monopolist is currently charging a high price, and you have calculated that you can make a nice profit charging 10% less than the monopolist. Before you go ahead and chall
How many homes should be built in a new residential area. The firm has some monopoly power in its local market. Its demand is estimated to be Q = 10 - 1/6 P. What is the reven
uppose as a manager of a profitable department store you are confronted with a pricing problem. You have two types of customers: a high-end type that are willing to pay a pric
Consider the following annual data on approximate cigarette sales and cigarette producer advertising expenditures over the 1986-1990 period: Discussing the direction of the re
Canada and Mexico. Suppose that Canada and Mexico produce two goods: timber and televisions. Assume that land is specific to timber, capital is specific to televisions, and la
In the Republic of? Ragu, the currency is the rag. During? 2009, the Treasury of Ragu sold bonds to finance the Ragu budget deficit. In? all, the Treasury sold? 50,000 10-year
A firm†TM s demand function is defined as Q = 30 - 2P. a) Use this demand function to calculate total revenue when price is equal to 10 and when price is equal to 11. b) W