Movement of resources in short run and long run
Problem: Suppose Labor is a Variable Input. Capital and Land are the inputs that requires the longest time period before they can be adjusted. Explain the movement of the resources in both SHORT RUN and LONG RUN
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Problem: Suppose that production were represented by the production function displayed in the table above. You would conclude that: A) land displayed diminishing returns. B) labor displayed diminishing returns.
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Suppose Labor is a Variable Input. Capital and Land are the inputs that requires the longest time period before they can be adjusted. Explain the movement of the resources in both SHORT RUN and LONG RUN
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Labor is only variable input. Output is 4000 unit Marginal Product of labor is 10 Average Product of labor is 50 Price of labor is $150 Marginal product of capital is 40 Average product of capital is 60 Price of capital is $240 Total Fixed Cost is
2. Analyze the aging workforce from a human resource professional perspective and discuss the added value of having an aging workforce when recruiting new talent. Also, what impact will an aging workforce have on an organization's overall image?
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