The average product of the 10 employees of ABC is 1000 bags. The firm is considering employing

Fantastic news! We've Found the answer you've been seeking!

Question:

The average product of the 10 employees of ABC is 1000 bags. The firm is considering employing a Chinese worker whose marginal product is 900 bags. Each bag is sold at K 10.00

a) What is the average product after this worker is employed?

b) Should ABC employee the new Chinese worker if he demands a wage of K 8 000.00

c) What is the maximum wage ABC can pay the Chinese worker

Related Book For answer-question

Microeconomics

ISBN: 978-0133019940

11th edition

Authors: Michael Parkin

See More Books

Posted Date: Apr 02, 2019 10:22 AM

See More Questions

The average product of labor is given by the equation APL = 600+200LL2 a. What is the equation for the total product of labor (TPL)? b. What is the equation for the marginal product of labor (MPL)?...
Calculate the average product of labor and draw the average product curve. The table sets out Sues Surfboards total product schedule. Labor Output (workers (surfboards per week) per week) 1 .. 30 2...
Firm ABC is considering launching a new product but there is some uncertainty about how the product will actually be received. Accordingly, your junior analyst has provided you with three sets of...
Use the following information taken from the multi-step income statement of On That Note Music Shop to answer the questions below Account Name or Subtotal Cost of Good Sold General and...
Indicate the most likely effect of the following changes in inventory management on the inventory turnover ratio (+ for increase, - for decrease, and NE for no effect). -----a. Inventory delivered by...
In September 2008, the IRS changed tax laws to allow banks to utilize the tax loss carryforwards of banks they acquire to shield their future income from taxes (prior law restricted the ability of...
A test question gives the mass density of seawater and asks what volume is occupied by $1.0 \times 10^{3} \mathrm{~kg}$ of seawater. Someone answers $0.9843 \mathrm{~m}$. Without knowing the mass...
Should Chiquita have agreed to make the payments to the terrorist group to protect its employees? What ethical principles support your opinion?
Graph the first inequality subject to the nonnegative restrictions. 18x+60y 1800, x0, y 0 Use the graphing tool to graph 18x+60y 1800 and the boundary lines representing the nonnegative constraints....
Which histograms are skewed to the left? Refer to histograms A through H in Figure 2.12. 2.0 -50 0.0 1.0 3 150 5 15 25 D -1 -3 8 14 -7 -4 -1 G Figure 2.12 Eight histograms LO 09 007 01 08 01 250 09...
Do you see any conflict between your desire to be as profitable as possible and your desire to pay employees a living wage?
With the availability of free credit reports, consumers are encouraged to check their report every 4 months-one report from each of the three major bureaus. In the past, consumers also were...
Why is Principle 1: The Best Protection Is Knowledge so important when choosing a broker?
A leading financial publication reported that the average baby boomer credit user will pay approximately $1,200 in interest annually. If, instead of paying interest, this amount was saved every year,...
Compare the rates for a given amount of auto insurance (by interviewing an agent, visiting a Web site, or calling a toll-free information line) for: a. An unmarried male and an unmarried female of...
Uncle John and Aunt Martha own 1,000 shares of AT Inc. in a brokerage account that is titled "John and Martha, Tenancy-in-Common." Explain how the assets would be handled if John passed away. What if...
Assuming that the company decides to acquire the machine, use the relevant calculations to advise the company on whether it should purchase or lease the machine. (14)
Interest Compounded Annually. When P dollars is invested at interest rate i, compounded annually, for t years, the investment grows to A dollars, where A = P(1 + i) t . Trevor's parents deposit $7800...
The table below shows the Long-Run Total Cost for three different firms in the block chain payments system business. The output is the number of payments processed per minute. Output I 560 $110 $150...
How would the outcome be changed if the indigenous communities had property rights over the resources?
What are some reasons for the differences in the distribution of income in Australia and Brazil and South Africa? Households Market income (percentage) (percent of total) Lowest 20....7 Second 20..13...
Explain the idea of a tradeoff and think of three tradeoffs that you have made today.
From output of your computer software, locate (a) the sum of squared errors, (b) the $F$-value for the overall significance of a regression model, (c) the estimated covariance matrix for the least...
Compute parameter estimates for a regression model that is nonlinear in the parameters and explain how nonlinear least squares differs from linear least squares.
Explain what is meant by (a) an omitted variable and (b) an irrelevant variable. Explain the consequences of omitted and irrelevant variables for the properties of the least squares estimator.

The average product of the 10 employees of ABC is 1000 bags. The firm is considering employing

Question:

Expert Answer:

A Current AP 1000 Current TP APQ 100010 10000 MP 900 NEW TP 1000090... View the full answer

Microeconomics

Students also viewed these economics questions