Diminishing marginal productivity states

Assignment Help Managerial Economics
Reference no: EM1372181

The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input, eventually additional output one gets from that additional input is going to fall?

Give an example from your work or personal life of the law of diminishing marginal productivity and how it might affect cost.

 

Reference no: EM1372181

Questions Cloud

Describe an industry that would meet conditions of perfect : Describe an industry that would meet conditions of a perfectly competitive industry and how individual firms would respond to an increasing market demand for product.
Price change on total cost, total revenue and total profit : Wyandotte Chemical Corporation sells many chemicals to automobile industry. Wyandotte currently sells 30,000 gallons of polyol per year at an average price of $15 per gallon.
Create communication system for transmission : Create communication system (block diagram) which will permit transmission of these 4 sources over  telephone channel using: Time division multiplexing by using PCM, suppose 8-bit samples.
How progressive is congressional black caucus : Patrick Cockburn Iraq Study Group's Cautious Appraisal Leutisha Stills Just How Progressive is Congressional Black Caucus.
Diminishing marginal productivity states : The law of diminishing marginal productivity states that as more and more of a variable input is added to an existing fixed input,
Hould i burn my leaves or haul m into woods : Sometimes self-interested behaviour in markets do not contribute to broader social objectives Example: Should I burn my leaves or haul m into woods.
Website review for hrsa : Search the Internet to identify a Web site intended as a resource for human services and analyze the site based on evaluation criteria as stated in the above tutorial, or from another reliable source.
Relationship between productivity and the wages earned : Determine what is the relationship between productivity and the wages earned by an employee? What are some factors that determine the level of your income?
Compute devices accommodated by t-type tdm line : Determine no. of foll. devices that could be accommodated by T1-type TDM line if 1% of line capacity is reserved for synchronization purposes.

Reviews

Write a Review

Managerial Economics Questions & Answers

  Determine economically efficient move

Business Week, in an article dealing with management, wrote, "When he took over furniture factory three years ago. Realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap.

  Marginal physical product of labor

Use the following information for a company's output at various levels of employment to compute: its marginal physical product of labor schedule; its schedule,

  Calculate the maximum profit, price and quantity

The manufacturer of high quality flatbed scanners is trying to decide what price to set for product. The cost of production and the demand for product are assumed to be as follows:

  Determine effect on the economic variable

For each policy or event given below, please indicate if it will increase (+), decrease (-), or it is uncertain (+/-) how it will affect the economic variable on right-hand side.

  Risky behavior amoung youths in behavioral economics

Determine what is Risky Behavior Amoung Youths in Behavioral Economics and explain how does it affect the economy?

  Calculate time weighted rate of return

A portfolio manager is being evaluated based on the time-weighted average rate of return. If the manager had achieved annual returns for the past three years of 2.5 percent, 14.5 percent and 9 percent on one initial investment of $500,000,

  Motivating employees by compensation plans

A new manager recently was given an project to make two possible wage schemes for a design firm. The manager came up with the following packages:

  Electric generating plants of tennessee valley

Some of the electric generating plants of Tennessee Valley Authority are powered by coal. Coal is bought by a separate procurement division and is transferred to plants for use.

  Calculate firm profit

Suppose you are the manager of a company that produces products X and Y at zero cost. You know that different types of consumers value your two products differently,

  Compensation of fund managers

The Manager of your corporation pension fund is compensated based entirely on fund performance; he received over $1.2 million last year.

  Find the firm forward pe ratio

A corporation requires $500,000,000 to finance a major project in the firm. The company is expected to generate a total of $80,000,000 in earnings next year with the addition of this project.

  Finding output, revenues, costs, and profits

The Alex Corporation uses two inputs, A and B, to produce boats. The production function for boats is given through

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