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
OverLord2011 [107]
3 years ago
12

Suppose a chair manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observe

d the following levels of production corresponding to different numbers of workers:
Number of Workers Number of Chairs
1 10
2 18
3 24
4 28
5 30
6 28
7 25
a. Calculate the marginal and average product of labor for this production function.
b. Does this production function exhibit diminishing returns to labor
Business
1 answer:
natima [27]3 years ago
3 0

Answer:

(a)

MP = TPn - TPn-1

AP = TP/Q

No. of workers       No. of chairs   MP    AP

         1                              10              -       10      

         2                             18             8       9

         3                             24            6       8

         4                             28            4       7

         5                             30            2       6

         6                             28          - 2      4.6

         7                              25          -3       3.5

(b) Yes, this production function exhibits diminishing returns to labor. As we increase the number of laborers, the output per worker falls. we will see that the AP is falling with the rise parturient.

You might be interested in
Costs being equal, when a firm has a higher value gap than its competitor, it can be inferred that the firm:
Ronch [10]
Can charge a premium price for its items or goods and also for administrations charges usually termed as services .   
Since clients need to see items as being justified regardless of the higher sticker price, a business must endeavor to make an esteem observation. Alongside making an excellent item, proprietors ought to guarantee their showcasing endeavors, the item's bundling and the store's stylistic theme all join to help the superior cost.
6 0
3 years ago
Nike, Inc.reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant a
vodka [1.7K]

Answer:

Explanation:

The total assets comprises of current assets, fixed assets ,and the intangible assets

The current assets includes cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

The preparation of the classified balance sheet for Nike, Inc on  May 31, 2022 is presented in the spreadsheet. Kindly find the attachment below:

3 0
3 years ago
Zang Company had no office supplies on hand at the beginning of the year. During the year, the company purchased $250 worth of o
Amiraneli [1.4K]

Answer:

Hdhdi

Explanation:

7 0
2 years ago
The emergency banking relief act helped solve the banking crisis by
max2010maxim [7]

Answer:

providing banks that the government deemed as "sound financial footings" an operating license.

Explanation:

The emergency banking relief act helped solve the banking crisis by providing banks that the government deemed as "sound financial footings" an operating license. This allowed the banks to reopen and continue business as well as providing the public with ease of mind and allowing them to slowly rebuild their trust on towards the banking system.

If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
The death benefit of a(n) _____ life insurance policy may go down because of poor investment returns.
ICE Princess25 [194]
<span>The death benefit of a(n) variable and universal life insurance policy may go down because of poor investment returns.
Universal life insurance and variable life insurance are two types of permanent life insurance, in this case if the the person who insured dies any time</span><span> as long as there is enough cash value to pay the costs of insurance in the policy, the death benefit will be paid. </span>
6 0
3 years ago
Other questions:
  • Nancy's union has negotiated a three-year wage contract that provides for a 2.4% increase indexed to inflation. The rates of inf
    13·1 answer
  • The decision-making control in which local units are given autonomy is characteristic of a(n:
    12·1 answer
  • For the month of october, janus corporation used $30,000 worth of direct materials in production and incurred direct labor costs
    12·1 answer
  • Select the correct answer. What is the consumer's ability and desire to buy goods and services called? A. supply B. demand C. eq
    9·1 answer
  • What does a company's customer service department do?
    14·1 answer
  • Oreo Corporation has accumulated E&amp;P of $8,000 at the beginning of the current year. During the year (a nonleap year), the c
    8·1 answer
  • Hewitt Company expects cash sales for July of $ 19 comma 000​, and a 22​% monthly increase during August and September. Credit s
    8·1 answer
  • Boots Plus has two product​ lines: Hiking boots and Fashion boots. Income statement data for the most recent year​ follow: Total
    6·1 answer
  • Presented below are certain account balances of Nash Products Co. Rent revenue $ 7,390 Sales discounts $ 8,110 Interest expense
    12·1 answer
  • If a balance exists in the temporary moh account at the end of the​ period, it can be ignored for purposes of preparing the​ com
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!