Emco Company has an assembly line of fixed size A. Total output is a function of the number of workers (crew size) as shown in the following schedule: Crew Size Total Output (No. of Workers) (No. of Units) 0 0 1 10 2 35 3 50 4 56 5 59 6 60 7 60 8 58 Determine the following schedules: (a) Marginal productivity of labor (b) Average productivity of labor (c) (d) Elasticity of production with respect to labor Draw and Show relationship MPL & APL
Emco Company has an assembly line of fixed size A. Total output is a function of the number of workers (crew size) as shown in the following schedule: Crew Size Total Output (No. of Workers) (No. of Units) 0 0 1 10 2 35 3 50 4 56 5 59 6 60 7 60 8 58 Determine the following schedules: (a) Marginal productivity of labor (b) Average productivity of labor (c) (d) Elasticity of production with respect to labor Draw and Show relationship MPL & APL
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Emco Company has an assembly line of fixed size A. Total output is a function of the number of workers (crew size) as shown in the following schedule:
Crew Size |
Total Output |
(No. of Workers) |
(No. of Units) |
|
|
0 |
0 |
1 |
10 |
2 |
35 |
3 |
50 |
4 |
56 |
5 |
59 |
6 |
60 |
7 |
60 |
8 |
58 |
Determine the following schedules:
(a) |
Marginal productivity of labor |
(b) |
Average productivity of labor |
(c) (d) |
Elasticity of production with respect to labor Draw and Show relationship MPL & APL |
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