The next 3 questions refer to the following: Labour Output 0 0 of 2 10 4 stion 26 6 46 8 65 10 72 12 80 14 86 Marginal Product when the number of workers increases from 2 to 4 workers is Marginal Product is maximized when the firm hires workers. Average Product is maximized when the firm hires workers. units.
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- gros profit per unit not including labour cost- $100 # Workers Output 1 20 2 36 3 48 4 56 5 60 6 62 If the wage rate is $1,000 a week, how many workers should the factory hire? If a surge in popularity for the factory’s brand allows them to raise the product price such that the gross profit rises to $150, how many workers will the factory hire now? Calculate the number of garments produced in each of the two cases above.Diminishing returns begins with the addition of the 2nd,5th,4th or 3rd workerSkill Circle Model Assume a firm incurs overall labor costs of $22 per hour- which includes wages and training costs. Unit training costs equals $160/h and the wage equals $20/h. How many firms are there?
- The data you will focus on is for Wages and Salaries(row 8), Paid Leave (row 10), Life Insurance (row 20), Health Insurance (row21), Short-term andLong-term Disability Insurance (rows 22 and 23, respectively), and Retirement and Savings (row24). These numbers represent the cost per hour worked to the employer for providing workerswith particular benefits and are for the third quarter of 2022. For example, the averageemployer’s cost per hour worked for base wages and salaries equals $28.88 in the third quarter of2022. It costs employers $3.10 per hour to provide workers with paid leave, etc.Questions:1. What is the total compensation per hour employers provide to their workers? For this,add up all of the components selected as instructed in the previous paragraph. Do not usethe total provided in row 7 of the spreadsheet.2. Using your answer to question 1, what is the percentage of the total that comes fromwages, and what percentage comes from total non-wage benefits?3. Using your answer…Over the last several decades improvements in computer software, hardware and robotics have dramatically altered the ability of machines to do complex repetitive tasks. Discuss the implications for semi-skilled skilled workersas a result of this improvement. Discuss how the cost of the new technology influences the choice of inputs used in production and the rate of adoption of the new technology. Can you please answer this question so there will be no plagiarism, you have answer for this question in your website, but more likely it is already copied by someone elseHow do federal agencies typically value lives saved by health, safety, and environmental regulations? A. Agencies consider medical expenses, pain and suffering, lost wages, and funeral and burial expenses B. Agencies ask individuals how much they would pay to avoid dying and average the results for the population C. Agencies use labor-market data to determine how much individuals are willing to pay to avoid (or, willing to accept to face) small fatality risks and use this information to generate a value of statistical life D. (A), (B), and (C) E. (B) and (C)
- The hypothesis, (as stated in the title) of E.F. Schumacher’s seminal book Small is Beautiful belongs to the industrial age and has no relevance to our contemporary Web 2.0 world. Is this statement true? Why or why not? add one reference please, between 150-200 words onlyIdentify 10 examples of direct factors (labor, capital, technology, resources) used for production and 10 examples of indirect factors (i.e factors other than labor, capital, technology, or resources).Suppose the population of Neptune 15 years of age and above is 24,100. Its labor force is 13,900 and its number of employed is 13,000.What is Neptune’s participation rate? Question 14Answer a. 52.45% b. 53.94% c. 57.68% d. 93.53%
- The productivity of an input is the Group of answer choices net worth of the input. sum of the total output produced by all inputs. amount of output produced per unit of input. per capita cost of an input.Attached is question 3. PLEASE SHOW WORK IN EXCEL!Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 61,500 Standard direct labor hours allowed (SQ) 63,000 Total payroll for direct labor $ 774,900 Direct labor efficiency variance $ 18,000 The actual direct labor rate per hour (AP) for February, rounded to two decimal places, was: