In one day Amazing company produced 50 shirts in 250 labor hours. What is Amazing company's productivity? O a. 1/5 shirts per hour O b. 5 hours per shirts O C. 50 shirts d. 5 shirts.
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- An increase in the average wage also causes the labor demand curve to shift to the O A. left because the use of machines decreases, causing the average wage to increase. B. right because the use of machines increases, causing labor to become more productive. C. left because the use of machines decreases, causing the marginal cost of labor to increase. O D. left because the use of machines decreases, causing labor to become less productive. O E. right because the use of machines decreases, causing the marginal product of labor to increase.Refer to the table to answer the question Output Tech 1 Tech 2 Tech 3 K K K 100 14 6 2 8. 15 3 if the firm is operating in a high wage country, where capital cost $150 per unit and labor cost $100 per worker, which technology minimize the production cost ? Select one O a. all O b. Technology 3 O c Technology 2When the first automobiles were built in 1901, they were made by skilled workers using hand tools. Later, in 1913, Henry Ford introduced the moving assembly line, which lowered costs and speeded production. Over the years, the production line has become ever more mechanized, and today robots replace people in many tasks. Search The graph below shows the demand curve for cars in 1901. Suppose the least-possible cost of producing a car is $250 and that the efficient scale is 0.5 cars a day. D Draw the average total cost curve in 1901. Label it ATC₁ 500- 400- Price (dollars per car) 300- Q SON The graph below shows the demand curve for cars in 2020. Suppose the least possible cost of producing a car is $10,000 and that the efficient scale is 200,000 cars a day Draw the average total cost curve in 2020 Label it ATC₂ Price (dollars per car) 50,000 40,000 30,000+ Next Q
- The marginal product of effort, a typical worker in fast-food burger joint, is one- fourth burgers per hour; that is, MPe = .25The price of a burger is $2. The figure graphs Mac’s marginal cost of effort. If Mac increases his effort by one unit per hour, the change in the burger joint’s revenue is $ per hour. That is, what is VMPe , the value of Mac ‘s marginal product of effort ? Plot the VMPe curve in the figure. Mac efficient effort e^ is the solution to what equation? Illustrate the solution in the figure. Mac efficient…Table 7 Jimmy's Gigaplots Factory Quantity of gigaplots 1 ~ 3 2 4 5 679 BAC Select one: Fixed Cost O a. $22.17 O b. $22.57 O c. $16.34 O d. $22.00 aguila Variable Cost $13 $28 $64 $108 $133 Total Cost $38 $70 $110 $185 Average Average Fixed Variable Cost Cost Refer to Table 7. What is the average total cost of producing 6 gigaplots at Jimmy's Gigaplot factory? Average Total Margina Cost CostQuestion 10 Figure 1 below shows the relationship between the number of mechanics hired and the number of car repairs performed per day at a car-repair shop. Number of Cars Repaired 0 2 4 5 Number of Mechanics The production process depicted on the graph exhibits marginal product of labor. O increasing O constant O diminishing 18 17 15 12 8 00
- The demand for labor curve of nurses shifts rightward if the O A. supply of labor curve for nurses shifts rightward. O B. value of marginal product of nurses increases. OC. wage rate paid to nurses rises. O D. supply of labor curve for nurses shifts leftward. O E. wage rate paid to nurses falls.13. Bibbins Manufacturing produces softball and baseballs for youth recreation leagues. Each softball costs $11 to produce and sells for S17 while each baseball costs $10.50 and sells for $15. The material and labor required to produce each item is listed here along with the availability of each resource. Amount Required Per Amount Resource Softball Baseball Available Leather Nylon Core 5 oz 6 yds 4 oz 2.5 min 1 min 6,000 oz 5,400 yds 4,000 oz 3,500 min 1,500 min 4 oz 3 yds 2 oz Labor 2 min Stitching 1 min a. Formulate an LP model for this problem. b. Sketch the feasible region. c. What is the optimal solution?The short run is defined as the period of time: Select one: O a. in which all inputs are fixed O b. in which at least one input is fixed O c. O d. none of the answers provided is correct in which no inputs are fixed
- Time Total Problems Answered 8:00 AM 9:00 AM 40 10:00 AM 70 11:00 AM 90 Noon 100 Use the table to answer the following questions. The marginal, or additional, gain from Manuel's first hour of work, from 8:00 AM to 9:00 AM, is problems. The marginal gain from Manuel's third hour of work, from 10:00 AM to 11:00 AM, is problems. Later, the teaching assistant in Manuel's physics course gives him some advice. "Based on past experience," the teaching assistant says, "working on 25 problems raises a student's exam score by about the same amount as reading the textbook for 1 hour." For simplicity, assume students always cover the same number of pages during each hour they spend reading. Given this information, in order to use his 4 hours of study time to get the best exam score possible, how many hours should he have spent working on problems, and how many should he have spent reading? O 1 hour working on problems, 3 hours reading O 2 hours working on problems, 2 hours reading O 3 hours…workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 a.) can you explain dimisnishing marginal product based on those numbers? b.) compare the column for average total coat and the column for marginal cost. Explain the relationship.Quacion Last year, Jarod left a job that pays $80,000 to run his own bike-repair shop. Jarod's shop charges 365 for a repair, and last year the shop performed 4,000 repairs. Jarod's production costs for the year included rent, wages, and equipment, Jarod spent $60,000 on rent and $120.000 on wages for his employees. Jarod keops whatever preft the shop eams but does not pay himself an olle wage Jarod used $25,000 of his savings to buy a machine for the business. His savings a saming an annual interest rate of 6 percent. a. What is Jarod's annual accounting profi? ( b. What is Jarod's annual economic profit? c. Based on what you have found in parts a and b., should Jarod continue running his bike-repair shop or quilt to return to his former job?