What is the output of the 8th worker? Group of answer choices: 0 -10 10 5

Q: Suppose the marginal product of labor is MPL=10 and the cost of each worker is w=50. What is the…

A: In the labour market, the firms are the ones who demand labour and the workers are the ones who…

Q: 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages…

A: The labor force participation rate is a measure of how active a worker is in a given economy. The…

Q: The average product of labor for three workers is 16 and the marginal product of labor for the…

A: Average product of labor refers to the output per labor. Marginal product of labor refers to the…

Q: You produce shoes (Q) with labor (L) and capital (K).  The production process is as so: Q = 400L -…

A: Answer to the question is a s follows :

Q: q = VKL where q is the produced quantity, K is the level of capital used in production and L is the…

A: 20. According to the question ,  q = (KL)1/2…

Q: If the VMP of the last worker hired is $45 and the wage rate is $40, the firm should O lower the…

A: The situation that depicts when people are able and capable to work but are not able to find jobs in…

Q: Quantity Quantity Marginal Return to Additional Labour Variable Cost Total Cost Fixed Cost ($) of of…

A: The marginal return for second worker is calculated as follows.

Q: A car wash firm calculates that its daily production (in number of cars washed) depends on the…

A: The factors of production are the inputs that are used in the production process of a particular…

Q: MRP for a shaved ice stand's first, second, and third workers is $95, $90, and $85 per day,…

A: Marginal Revenue Product (MRP) is defined as the revenue which is created by utilizing one more unit…

Q: Suppose all the people below have a job. Which one of them would not be considered part of the…

A: The Bureau of Labor Statistics (BLS) usually uses the phrase "civilian labor force" to describe the…

Q: 19. Average productivity of labor equals A the change in output dividod by the change in labor b…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: A worker is said to be unemployed if he/she Select an answer and submit. For keyboard navigation,…

A: Unemployment occurs when someone of working age is not able to get a job but would like to be in…

Q: vorkers is 100 and the total product of three vorkers is 120. The average product of three vorkers…

A: here we calculate the given by following method given below;

Q: 50, Firm should hire Units of output 100 160

A: ‘Marginal productivity’ is the change in total productivity when one more unit of labor is employed.…

Q: 10- If labor is on the vertical axis and capital is on the horizontal axis, the slope of an isocost…

A: The line that depicts the various combinations of the inputs that are used which tend to cost the…

Q: A hair salon with one, two, three, or four employees can serve 20, 35, 47, or 56 customers,…

A: Marginal Product: In economics and in particular neoclassical economics the marginal product or…

Q: Q = 4L + 8K Q = 50K04L0.6 Q = [K0.5L0.5]3 i) Calculate the marginal products of labor and capital

A: Marginal product is the change in total product with an additional unit of input hired. Marginal…

Q: mpetitive firm sells its output for 530 per ut per day; the mar ginal product of the 11th worker is…

A: Firms are said to be in perfect competition when the following conditions occur: (1) many firms…

Q: kindly give the relevant term or concept 1. the addition to total output when one more…

A: "Total product refers to the total output produced by a firm within a given period with given inputs…

Q: Diamond is the office manager of a service company. Recently, she approved the request for new…

A: In a service company, addition to the capital of the business will always increase the…

Q: OccupationSalaryAttorney$77,000Software Engineer$63,000Administrative assistant$33,000Elemetary…

A: Demand is the quantity of a good which the consumers are willing and also able to purchase during a…

Q: A jeweler has hired a craftsman to make handmade jewelry. All items produced are identical, but the…

A: Labor refers to the amount of work exerted by the people to produce the final goods and services.…

Q: true or false The marginal revenue product of labor is the extra revenue associated with the last…

A: False A marginal revenue product (MRP) is defined as the market value having an one additional…

Q: Using the figure below, if Company X hires 12 workers what will their marginal product be?

A: The creation of additional output as a result of the additional input that is being placed into the…

Q: Derive the per-worker production function for this economy if Y=zK2/3N1/3.

A: Production function shows relationship between inputs and output produced with the inputs

Q: What is the response in a firm’s labour demand to a fall in the price of capital? How might such a…

A: The markets are the place where the buyers, or the consumers of goods and services tend to interact…

Q: Marginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 ? 120 30

A: Average product = Total product / labor

Q: In the USA, what percentage of total employment in SMEs have fewer than 20 employees? A. under 20%…

A: In the USA, the major part of the SMEs are having fewer then 20 employees. This accounts for around…

Q: 66. Which of the following input factor takes risk, innovates and coordinates А. О Сapital B. O…

A: Option D Entrepreneur takes risk in business by allocating his capital and time, does innovation and…

Q: What is the firm's average fixed cost of producing 1,500 gadgets?

A: Fixed cost refers to the cost incurred by a firm irrespective of the level of output produced by a…

Q: please discuss this statement “Thw technical pattern that statistically significant could be…

A: Statistical significance suggests that the variables considered are likely to have a causal…

Q: What is the value marginal product of labor if: P= $1o, MPL = $25, and APL = 40?

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: ings rate is equal to [ Select ] re: er worker = [ Select ] [ Select er worker = [ Select ]

A: The production function is, Y = K^(1/2)*L^(1/2) y = k^(1/2) y = f(k) where, y = Y/L = output per…

Q: whats the difference between marginal physical product (MPP) and the marginal rate of subsitution…

A: Marginal physical product is focused on production theory and marginal rate of substitution is…

Q: Labor Output 1 10 18 25 4 30 33 6. 34 7 35 If the workers are paid $18 per hour, the price of the…

A: Labour Output Labor Cost Fixed cost total cost Total Revenue Profit 1 10 18 100 118 200 82 2 18…

Q: A restaurant with one, two, three, or four employees can serve 35, 50, 64, or 75 customers,…

A: The extra output, return, or profit yielded per unit by benefits from production inputs is known as…

Q: If output is produced according to Q = ( KL) 3/4, then this production process…

A: Hello, Thank you for the question. Since there are multiple questions posted here, only the first…

Q: 66. Which of the following input factor takes risk, innovates and coordinates A. O Capital B. O…

A: Entrepreneurs takes risks in terms of finance, innovate new ideas, and coordinate with their own…

Q: 1.Education is commonly regarded as increasing one’s human capital. The term, human capital, is best…

A: Human capital: Human capital is the intangible asset that is possessed by human beings it include…

Q: When the marginal product of an additional worker is less than the marginal product of the previous…

A: In a market, the productivity of the input resources is known as the returns from the inputs used in…

Q: An individual over the age of 15 that does not have a job, is willing to work but has given up…

A: Unemployment has been a major concern for most countries over a period of time. The unemployment…

Q: gros profit per unit not including labour cost- $100 # Workers Output 1 20 2 36 3 48 4 56 5 60 6 62…

A: Given: Gross profit per unit not including labor cost- $100 To Find:  If the wage rate is $1,000 a…

Q: If q=9L²-L³ marginal product of labor is_________when L=2.

A: An increase in total production when one additional labor unit is being added and all the other…

Q: High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides…

A: A profit maximizing firm will employ an input only as long as the input adds more to it's total…

Q: 60) If another worker adds 9 units of output to a group of workers who had an average product of 7…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: Define the following •Unskilled labour **** **** Skilled labour ***** Semi-skilled labour

A: The firms tend to use various factor inputs, which are either variable, or fixed in nature. The…

Q: 10. Mobility of labour A. Increases efficiency of labour B. O Spoils labour C. O Increases division…

A: Government gets certain tax revenue with them through which they have to carry expenditure on…

Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.