--%>
Assignment Help - homework help

Labor Productivity

Where diminishing returns overwhelm gains through the division of specialized labor, when there is an inflection point on the total revenue curve derived by a total output curve, and by the vantage point of a purely competitive firm hiring workers into a competitive labor market: (1) labor’s marginal product is at its maximum. (2) labor’s marginal revenue product is at its maximum. (3) marginal cost is at its minimum. (4) the value of the marginal product of labor and marginal revenue product of labor are equal. (5) All of the above.

How can I solve my Economics problem? Please suggest me the correct answer.

   Related Questions in Managerial Economics

  • Q : Illustrates the criteria for good

    Illustrates the criteria for good forecasting method?

    		•
  • Q : Occupational Licensing The capability

    The capability of otherwise qualified workers to involve in particular careers or enter specific professions is probably most inhibited from: (1) occupational licensing. (2) wage discrimination. (3) segregation in our school system. (4) union labor contracts. (5) scre

    		•
  • Q : State Extrapolation statistical Method

    States the Extrapolation statistical Method of Demand Forecasting?

    		•
  • Q : Problem regarding the Diminishing

    Assume that you require studying six hours per week to earn a ‘C’, nine hrs a week to earn a ‘B’, and 15 hrs per week to earn an ‘A’. This would mean: (i) Raising returns to hrs studied. (ii) Diminishing returns to hrs studied. (iii

    		•
  • Q : Marginal revenue product and marginal

    When the marginal revenue product of the last worker hired through a large firm is fewer than its marginal resource cost, in that case the firm: (i) increases profits if this lies off a few workers. (ii) operates in a region of decrea

    		•
  • Q : Backward bending supply curve for labor

    A backward bending supply curve for labor arises while: (w) firms wish to hire only a specific quantity of labor. (x) there is a change in the elasticity of resource supply. (y) workers prefer leisure over added income above several wage. (z) minimum

    		•
  • Q : Illustrates the Income Elasticity of

    Illustrates the Income Elasticity of Demand?

    		•
  • Q : Wealth definition of economics Who is

    Who is the father of economics and what is wealth definition of economics?

    		•
  • Q : How many types are of price elasticity

    How many types are of price elasticity of demand?

    		•
  • Q : Learning-by-doing Firms may make use of

    Firms may make use of low prices to enter a market and gain market share therefore is can learn the intricacies of a particular product line or business. It is an illustration of: (1) limit pricing. (2) accommodation. (3) learning-by-

    		•