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jasenka [17]
3 years ago
5

Exhibit 22-8 Above shows how output changes as the only one variable input, labor, changes. At what unit of labor does diminishi

ng marginal returns set in?

Business
1 answer:
Vadim26 [7]3 years ago
7 0

Answer: 3 units of labor

Explanation:

Diminishing Marginal Returns refers to a scenario where less marginal output is recorded as more inputs are invested.

From the exhibit, that point would be at 3 units of labor.

At 0 units of labor, 0 units of output was recorded.

At 1 unit of labor, 50 units of output was produced. This means 50 more units were produced.

At 2 units of labor, 110 units of output were produced. This means 60 more units were produced.

At 3 units of labor, 155 units of output were produced meaning that only 45 more units were produced as a result of the extra unit of labor.

This 45 units is less than the 60 units that adding the second unit of labor added to production meaning less marginal output was recorded as more inputs were invested starting here.

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Answer:

A general lien is one placed against any and all real and personal property owned by a particular debtor. An example is an inheritance tax lien placed against all property owned by the heir. A specific lien attaches to a single item of real or personal property, and does not affect other property owned by the debtor.

Explanation:

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2 years ago
A firm is a competitive seller of output at amarket price of $3. The only resource itrequires to create its product is labor, wh
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Answer:

B. $6

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3 years ago
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Thanks to cell phones, global refugees can be aided better due to cell phones providind c. migration statistics.

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