1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
luda_lava [24]
3 years ago
5

Suppose that labor is the only variable input to the production process. If the marginal cost of production is diminishing as mo

re units of output are​ produced, what can you say about the marginal product of​ labor? If the marginal cost of production is diminishing as more units of output are​ produced, then the marginal product of labor
Business
1 answer:
attashe74 [19]3 years ago
8 0

Answer:

Marginal product will increase.

Explanation:

Since the labor is only variable input and the marginal cost of production is diminishing that means the cost of producing additional unit is lower. So marginal product of labor will be increasing.

Moreover, MC = w /MPL

Thus, diminishing marginal cost will exhibit increasing marginal product of labor.

You might be interested in
A formula that calculates the total dollar value of all goods and services produced in a nation and all the goods and services p
Lina20 [59]

Answer:

Gross National Product (GNP)

Explanation:

According to Investopedia, "the Gross National Product is the value of a nation's finished domestic goods and services during a specific time period".

*Note that the GNP should NOT be confused with the GDP (Gross Domestic Product). The GDP only accounts for the value of goods and services produced within a nation's borders, while the GNP also adds the value of services produced by that country's employees and companies in other nations.

7 0
3 years ago
site:coursehero.com why is it crucial to collect and analyze data when planning professional development sessions?
Neporo4naja [7]

Students are required to evaluate and analyze the data they gather in order to develop explanations for their results.

<h3>What is analyzing data?</h3>

To analyze anything is to break it down into its component parts and look at each one separately. Getting raw data and turning it into information that users can use to make decisions is the process of data analysis. In order to find answers, validate theories, or test hypotheses, data is gathered and evaluated.

Data analysis, according to statistician John Tukey, is:

"Procedures for analyzing data, techniques for understanding the findings of such procedures, methods for organizing the collection of data to make its analysis simpler, more accurate, or more precise, and all the equipment and results of (mathematical) statistics which apply to analyzing data."

To learn more about data analysis visit:

brainly.com/question/14864440

#SPJ4

7 0
1 year ago
What is capital? in your own words. economics.​
Bezzdna [24]

Answer:

In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. ... In classical economics, capital is one of the four factors of production. The others are land, labor and organization

4 0
3 years ago
An outbreak of salmonellosis occurred after an epidemiology department luncheon, which was attended by 485 faculty and staff. as
liraira [26]

Out of the 485 who ate the same food items, 65 people had fever and diarrhea and five of them were severely affected. If there were 72 cases added based on the laboratory tests, clinically apparent cases will be (65+72) or 137. The ratio of severe cases to other clinically apparent cases was 5/137.

4 0
3 years ago
The method of informing that focuses on how something is similar to and different from other things is called:
yaroslaw [1]

Answer:

comparison and contrast

Explanation: the definitation and meaning is expained in speech chapter 12

4 0
3 years ago
Read 2 more answers
Other questions:
  • A company reports accounting data in its financial statements. This data is used for financial analyses that provide insights in
    7·1 answer
  • You just started working for a company, where should you first look to find a confidentiality policy concerning information you
    9·1 answer
  • Upon what specific assumptions is this production possibilities curve based?
    12·1 answer
  • The yield to maturity on a coupon bond is _____.(A) always greater than the coupon rate.(B) the rate an investor earns if she ho
    5·1 answer
  • The ending inventory of finished goods for each quarter should equal 20% of the next quarter's budgeted sales in units. The fini
    14·1 answer
  • Which of the following would occur if a firm chose not to hold inventory for a given product?
    12·1 answer
  • Match the following items.
    7·1 answer
  • Waterhouse Company plans to issue bonds with a face value of $503,500 and a coupon rate of 8 percent. The bonds will mature in 1
    11·1 answer
  • I know this is impossible but can you guys help? Doesn’t have to use fancy words and doesn’t have to be long, I’m not English na
    9·1 answer
  • Which of the following is NOT one of the five basic functions of an
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!