This topic contains a solution. Click here to go to the answer

Author Question: The table below shows the number of units of labour and capital used in 4 alternative production ... (Read 116 times)

jlol3

  • Full Member
  • ***
  • Posts: 131

Question 1

The figure presents Total Product (units of output per day) as a function of Labour (workers per day) hired.



FIGURE 7-2

Refer to Figure 7-2. The marginal product of the fifth worker is


◦ 24 units.
◦ 160 units.
◦ 144 units.
◦ 120 units.
◦ 29 units.

Question 2

The table below shows the number of units of labour and capital used in 4 alternative production techniques for producing 1000 widgets per month.

TechniqueABCD
Labour25355030
Capital50352560

TABLE 8-1

Refer to Table 8-1. If the price of labour is $5 and the price of capital is $10, which production technique minimizes the costs of producing 1000 units of output?
◦ A
◦ B
◦ C
◦ D
◦ Any of the techniques have the same cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by jlol3 on Oct 12, 2022

Tussalpain

  • Full Member
  • ***
  • Posts: 189
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly




jlol3

  • Member
  • Posts: 131
Reply 2 on: Oct 12, 2022
Wow, this really help


kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Excellent

 

Did you know?

Signs of depression include feeling sad most of the time for 2 weeks or longer; loss of interest in things normally enjoyed; lack of energy; sleep and appetite disturbances; weight changes; feelings of hopelessness, helplessness, or worthlessness; an inability to make decisions; and thoughts of death and suicide.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

For a complete list of videos, visit our video library