Multiple choices One reason why in the short run, the marginal product of labor might increase initially as more workers are hired is that? the first workers hired get to use the best equipmentspecialization allows a worker to focus on one task, thereby increasing her proficiency at that task.the best workers are hired first and later hires are not as skillful.beyond some point, a firm has hired too many workers. In the short run, which of the following costs will not change as output changes? marginal cost.total variable cost.average variable cost.average fixed cost.total fixed cost. If your overall grade point average is 2.0 and you earn a 2.5 GPA this semester, your overall grade point average will increase. This situation demonstrates the general principle that? if average value is greater than marginal value, marginal value will increase.if average value is greater than total value, total value will increase.if marginal value is greater than average value, average value will increase.if marginal value is greater than total value, total value will increase. If we have information about workers’ marginal products, then total and average product can be found by? dividing marginal costs by the number of workers.multiplying the average marginal product times the number of workers.summing the marginal values to find the total, and multiplying it times the number of workers to get the average.summing the marginal values to find the total, and dividing it by the number of workers to get the average.

Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Answered: Multiple choices One reason why in…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4PA

See similar textbooks

Related questions

Question

Multiple choices

One reason why in the short run, the marginal product of labor might increase initially as more workers are hired is that?

the first workers hired get to use the best equipment
specialization allows a worker to focus on one task, thereby increasing her proficiency at that task.

the best workers are hired first and later hires are not as skillful.
beyond some point, a firm has hired too many workers.

In the short run, which of the following costs will not change as output changes?

marginal cost.
total variable cost.
average variable cost.
average fixed cost.
total fixed cost.

If your overall grade point average is 2.0 and you earn a 2.5 GPA this semester, your overall grade point average will increase. This situation demonstrates the general principle that?

if average value is greater than marginal value, marginal value will increase.

if average value is greater than total value, total value will increase.
if marginal value is greater than average value, average value will increase.

if marginal value is greater than total value, total value will increase.

If we have information about workers’ marginal products, then total and average product can be found by?

dividing marginal costs by the number of workers.

multiplying the average marginal product times the number of workers.
summing the marginal values to find the total, and multiplying it times the number of workers to get the average.

summing the marginal values to find the total, and dividing it by the number of workers to get the average.

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions