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
On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and
Reil [10]

Answer:

$3,325

Explanation:

Bad Debt Expense = Allowance for uncollectible accounts 2022 - (Allowance for uncollectible accounts 2021 - Written off in accounts receivable

Bad Debt Expense = $4,100 - ($1,400 - $625)

Bad Debt Expense = $4,100 - $775

Bad Debt Expense = $3,325

So, the bad debt expense for 2022 would be $3,325.

6 0
2 years ago
Which animals in the food web are secondary consumer ?​
ValentinkaMS [17]

Answer:

Soooooooooooooo the examples of secondary consumers include bluegill, small fish, crayfish and frogs.

Explanation:

5 0
2 years ago
Total surplus with a tax is equal to a. consumer surplus minus producer surplus. b. consumer surplus plus producer surplus plus
anygoal [31]

Answer:

Option (b) is correct.

Explanation:

The total surplus is defined as the sum total of producer surplus and consumers surplus. Total surplus with a tax is defined as the combined total of producers and consumers surplus and tax revenue that is earned by the government of a particular nation.

Consumers surplus = Willingness to pay for the product - Actual amount paid for the product

Producers surplus = Actual amount received for the product - Willingness to accept for the product

6 0
3 years ago
A budget based on several different levels of activity, often including both a best-case and worst-case scenario, is called a:
Kaylis [27]

Answer:

Flexible budget.

Explanation:

7 0
2 years ago
Read 2 more answers
Assume the following sales data for a company:
ella [17]

Answer:

b. 30%

Explanation:

The computation of the percentage increased in sales from the previous year to the current year is shown below:

= (Current year Sale - Preceding year Sale) ÷ (Preceding year Sale )

= ($325,000 - $250,000) ÷ ($250,000)

= ($75,000) ÷ ($250,000)

= 30%

Hence, the correct option is b. 30%

We simply applied the above formula to determine the percentage increased in sales

5 0
2 years ago
Other questions:
  • Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
    14·1 answer
  • Which of these types of buildings would not be found on the plaza principal?
    7·1 answer
  • All else being equal, does elastic or inelastic demand curve result in higher social surplus? How does elasticity of supply affe
    10·1 answer
  • In the context of the stages of organizational decline, which of the following is a difference between the faulty action stage a
    13·1 answer
  • The total cost of Jurislon to be purchased in August is: Multiple Choice $1,839,600 $1,208,700 $1,014,300 $1,017,000
    6·1 answer
  • Fifty people were asked to respond to a survey question regarding how frequently they used their credit card. The categories the
    5·1 answer
  • JohnBoy Industries has a cash balance of $54,000, accounts payable of $134,000, inventory of $184,000, accounts receivable of $2
    6·1 answer
  • Joe and Mark would like to start a new business selling a product new to the U.S., the Peraves Monotracer. This is a motorcycle-
    12·1 answer
  • Quizlet the ability of a central bank to set monetary policy instruments is _______, while the ability of a central bank to set
    12·1 answer
  • Paden Company purchased merchandise from Emmett Company with freight terms of F.O.B. destination. The freight costs will be paid
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!