Describe a real-life situation in which you have observed the diminishing marginal product of an input such
Question:
Describe a real-life situation in which you have observed the diminishing marginal product of an input such as labor.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (4 reviews)
One reallife situatio n where I have observed the diminishing marginal product of labor is in a manufacturing setting Lets consider a hypothetical sce...View the full answer
Answered By
Saleem Abbas
Have worked in academic writing for an a years as my part-time job.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
True or False: 1. By far the largest fraction of national income goes to wages and salaries for labor services. 2. The price of a productive factor is directly related to consumer demand for the...
-
Multiple Choice Questions: 1. Which of the following is always true? a. When marginal cost is less than average total cost, average total cost is increasing. b. When average fixed cost is falling,...
-
True or False: 1. In the long run, the inputs that do not change with output are called fixed inputs or fixed factors of production. 2. The long run can vary considerably in length from industry to...
-
Laura Leasing SA signs an agreement on January 1, 2022, to lease equipment to Plote AG. The following information relates to this agreement. 1. The term of the non-cancelable lease is 3 years with no...
-
Wonder Amusements Limited (WAL) was incorporated over 40 years ago as an amusement park and golf course. Over time, a nearby city has grown to the point where it borders on WALs properties. In recent...
-
At the beginning of July, CD City has a balance in inventory of $3,400. The following transactions occur during the month of July. July 3 Purchase CDs on account from Wholesale Music for $2,300,...
-
Identify six types of invalid data that you might use in testing cash disbursements.
-
Della Bee Company purchased a manufacturing plant building 10 years ago for $1,300,000. The building has been depreciated using the straight-line method with a 30-year useful life and 10% residual...
-
Create TWO objects of Book in a main () method. The first object will have the following initial values: Book title: Author: ISBN: Data Structures Philips Hamilton 6601-9863-6785 The second object...
-
Which of the following is not a characteristic of a perfectly competitive market? a. There are many buyers and sellers. b. The firms sell differentiated products. c. Firms are price-takers. d. Buyers...
-
Identify whether each of the following is an implicit cost or an explicit cost: a. The income you could earn if you werent in college b. The money you pay for college tuition c. The money you could...
-
One of the units used to measure pressure is pounds per square inch (psi). The mean pressure in the four tyres of a particular vehicle is denoted by xpsi. Given that 1 pound is approximately equal to...
-
A company just starting business made the following four inventory purchases in June: # of units Total cost June 1 150 units $520 June 10 200 units 780 June 15 200 units 840 June 28 150 units 660 ...
-
Professional email Thanks for the feedback, there seems to be a discrepancy in the headings for direct cost and operating cost. It appears that these may have been mistakenly swapped. I would...
-
Proposed FASB Concepts Statement No. 8, Conceptual Framework for Financial ReportingChapter 4, Elements of Financial Statements seeks to clarify the elements definitions in the following ways except...
-
Nico issues $10 million, 6%, 5 year bonds on January 1 of FY 1. The bonds pay interest semiannually on June 30 and December 31. The effective interest or market rate is 5%. What are the bond proceeds...
-
The first-quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2022. For the taxes, assume the second February payroll amounts were duplicated for the March 4 and March...
-
1. Is this information primary or secondary data? 2. How might Gerber use this information? Would it need to follow up with primary research? 3. Cite examples of how promotion may need to change to...
-
Draw and label the E and Z isomers for each of the following compounds: 1. CH3CH2CH==CHCH3 2. 3. 4. CH,CH2C CHCH2CH Cl CH3CH2CH2CH2 CH CH2CCCH2CI CHCH3 CH3 HOCH CH CCC CH O-CH C(CH
-
Which of the following statements is true? a. The law of diminishing returns states that beyond some point, the marginal product of a variable resource continues to rise. b. The marginal product is...
-
Which of the following statements is false? a. TC = TFC + TVC. b. AVC = ATC AFC. c. AFC = TFC/Q. d. MC equals the change in ATC divided by the change in Q. e. ATC = TC/Q.
-
Some companies advertise: We deal in high volume and pass our savings on to you in the form of lower prices. How could this be?
-
3. Urn 1 contains 30 blue and 20 green marbles. Urn 2 contains 20 blue and 25 green marbles. An urn is chosen at random with equally likely probability, then a marble is chosen. bar 28.0 a. What is...
-
Subtract the polynomials: (9a2+ 8a+ 4) - (6a + 3a - 8) =
-
Luis compared the function f(x) = 3x + 12x - 18x + 12x-3 to the quadratic function g(x). This table shows some values of g(x). -8 g(x) -26 0 -13 8 0 16 -13 24 -26 What is the distance between the...
Study smarter with the SolutionInn App