--%>
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 : Price Taker in Labor Supply Curves

    When a firm is a price taker in the labor market, in that case the: (w) wage is constant for any quantity of labor this would hire. (x) marginal resource cost of labor is constant for any quantity of labor this would hire. (y) wage equals the marginal

    		•
  • Q : Derived Demand for Labor All else

    All else identical, a competitive firm will demand more labor when: (w) technological advances lead to automation. (x) the price of the firm’s output rises. (y) more firms enter the industry. (z) competing firms offer their workers more training

    		•
  • Q : Describe the Long term Demand

    Describe the Long term Demand Forecasting.

    		•
  • Q : Illustrate when Price is greater than

    Suppose that price is greater than average variable cost. When a perfectly competitive seller is producing at an output therefore price is $11 and the marginal cost is $14.54, in that case to maximize profits the firm must: w) continu

    		•
  • Q : Limitations of Marginal Costing Write

    Write down the limitations of Marginal Costing?

    		•
  • Q : Describe why firms may shut down

    If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid

    		•
  • Q : Illustrates the fixed and variable

    Illustrates the fixed and variable inputs in economics?

    		•
  • Q : Income effect by personal supply of

    A personal supply of labor is exemplified by an income effect which dominates the substitution effect if: (w) Trina retires to a beach condo after working for the city for 42 years. (x) members of a rock band give up touring for a yea

    		•
  • Q : Income Effects and Substitution Effects

    When the substitution effect of a higher wage rate is more powerful than the income effect, in that case the: (1) supply curve of labor will be positively sloped. (2) demand for leisure increases as income rises. (3) human capital eff

    		•
  • Q : Problem of adverse selection Signaling

    Signaling may worsen the problem of adverse selection when: (w) potential agents do not transmit any types of signals. (x) job applicants increasingly signal with phony degrees. (y) employers discriminate on the basis of race or gender. (z) severe rec

    		•