Social Science Clinic => Economics => Microeconomics => Topic started by: mmm on May 24, 2019
Title: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table shows ...
Post by: mmm on May 24, 2019
Quantity of Labor
Total Product (gymnasts trained per hour)
A
0
B
1
7
C
2
13
D
3
17
E
4
19
F
5
20
The table shows information for Jen's Gymnastics. Jen hires coaches and can charge $20 per hour for gymnastics lessons. Jen's Gym pays coaches $30 per hour. The table shows that Jen's Gym will hire ________ coaches because ________. ◦ any number less than 5; the marginal product stops increasing with the fifth coach ◦ 4; the gym will earn a profit because the value of marginal profit exceeds the wage rate., but hiring a fifth coach will reduce profit ◦ 1; the value of marginal product is the highest ◦ 5; the marginal product is at its maximum ◦ 5; total product reaches its maximum
Title: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table shows ...
Post by: dpost18 on May 24, 2019
4; the gym will earn a profit because the value of marginal profit exceeds the wage rate., but hiring a fifth coach will reduce profit
Title: Re: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table show
Post by: bklynroc on May 9, 2021
thank you!
Title: Re: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table show
Post by: Jaedyn Hissam on Oct 3, 2021
thank you!
Title: Re: Quantity of Labor Total Product (gymnasts trained per hour) A0B17C213D317E419F520 The table show
Post by: Mckayla Love on Apr 23, 2023