QUESTION 5 Refer to the data. Avearge product of 3rd labor is units : -------- Output (TPL) Labors 40 90 3. 126 4 150 165 6. 170 A. 45 B. 37.5 O C. 36 O D. 42 1.
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- Total product (lawns mowed per hour) Quantity of labor (workers) 0. 1 2 15 22 6. 26 7 28 The table above shows the total product schedule for Rick's Lawn Service, a yard care company. Decreasing .marginal returns start to occur after the worker is hired اختر أحد الخيارات a. sixth b. first C. fifth d. third e. fourth O8. The law of diminishing marginal product holds that as a variable input increases while other inputs are fixed, ______.a. eventually the fixed inputs will increase at a rate equal to or below the variable increasesb. labor demanded will be high at both very low and very high outputs creating a U-shaped curvec. the marginal revenue product will eventually cause the labor demand curve to turn upwardd. at some point the increase will lose its effectiveness, and additions to output will declineQUESTION 12 The backward-bending supply of labour curve is based on consideration of income and substitution effects. Which of these statements explains why the labour supply curve slopes upwards when wage rates are relatively low? O a. The income effect outweighs the substitution effect O b. The individual feels able to give up consumption in order to enjoy more leisure O c. Wage increases increase the opportunity cost of leisure O d. The income and substitution effects work in the same direction
- Given the following table, how many workers sh red to maximie profs Labor Marginal Product Laber VMP Wage $32 S100 32 $128 $100 16 $64 $100 4. 5-4 S100 5. -12 S-48 S100 A.van's coffee shop in Al-Khodh currently hires 5 workers. When Safwan's coffee shop dded a 6th worker, its output actually fell. Which of the following statements is true? 1 The Average Physical Product (APP) of the sixth worker is negative. b. The sixth worker is not as skilled as the fifth worker. c The Total Physical Product (TPP) becomes negative. The Marginal Physical Product (MPP) of the sixth worker must be negative.Typed Plz and asap thanks
- 2. Given the following labor data of Meow Company. (1) Number of workers, (2) Number of cakes baked, Y (3) Marginal product of labor, MPN (4) Marginal revenue product of labor, MRPN (when P = RM40) 1 33 55 60 4 77 5 85 6. 89 7 110 a) Calculate and fill in the yellow colored blanks in the above table. (8 marks) b) What can you conclude from your answer? (2 marks)can someone pls explain if marginal product function (i.) and (ii) are either convex or concave? what is their economic implication?Use the following to answer questions 5-6: Production Data for Baseball Bat Company Total output (No. of bats) No. of workers 1 20 42 3 66 4 94 124 6. 150 7 170 8. 184 194 200 9. 10 11 204 12 202 13 198 14 190 (Note: disregard the instructions above the table) Using the above table diminishing marginal returns set in after the worker is hired. O 12th 1st 7th 5th
- Units of Total Average Marginal Product Product Product Labor 1 100 2 125 3 300 4 20 5 290 In the table above, diminishing returns Multiple Choice O begin with the first unit of labor. begin with the third unit of labor. O begin with the fourth unit of labor. begin with the fifth unit of labor. do not occur because output is positive for all levels of labor usage. OMr. R is working from7:30 AM to 3:30PM including lunch break for 5 days every week in jewelry design shop. His main task is designing authentic men's jewelries. He agreed to be paid by piece rate of 15 OMR /design for 15 weeks. If his daily output is 10 designs, calculate total earnings. O ,050 OMR O 10,500 OMR O 750 OMR O 11,250 OMR Labor demand and supply of labor are external factors that impact compensation practices. If supply of labor is less than the labor demand, most employers offer to jobseekers. O Higher rate Going rate O Lower rate O Market rateThe Al-Maskri Company in Seeb makes flower pots and receives RO 10 for each finished pot. Mr. Al-Maskri’s only factors of production are flower pot machine operators (labor) and a small building where the laborers work from. The number of flower pots per day the company produces depends on the number of employee-hours per day as shown below. The wage is RO 15 per hour. Number of pots per day Number of employee-hours per day 0 0 5 1 10 2 15 4 20 7 25 11 30 16 35 22 Al-Maskri’s daily fixed cost for the flower pot making machine and building is RO 60. Complete the following Table showing total revenue, variable cost, total cost, and daily profit for various quantities of daily flower pot production. Quantity of Pots per day Total Revenue RO per day Variable Costs RO per day Total Costs RO per day Profit RO per day 0 0 0 60 -60 5 75 -25 10 15…