In a factory employing 3,000 persons, in a day 5 per cent work less than 3 hours, 580 work from 3:01 to 4.50 hours, 30 per cent work from 4.51 to 6.00 hours, 500 work from 6.01 to 7.50 hours, 20 per cent work from 7-51 to 9.00 hours and the rest work 9.01 or more hours. What is the median hours of work?
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- If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?What is a production technology?A company produces children's toys. The manager noticed the connection between the number of employed workers and the quantity of toys produced per month, which are presented in the table of following: a) In what period is this firm operating? Why? b) What is the average product when 5 workers are employed? c) What is the marginal product when 7 workers are employed? What does this value mean? d) Does the law of declining marginal income apply? If yes to which worker? e) In this production function do we have total declining revenues? If so, which worker happens? f) Graph the curves of total product (TP), marginal product (MP) and product average (AP).
- Below are the overtime hours (O) worked by 3 employees an an Office. Calculate var(O). (3 significant digits in final answer) Worker Jim Pam Dwight Overtime Hrs. 10 3 Answer:The paper factory employs 470470 workers, producing 1,3001,300 tons of paper per month. Hiring 2020 more workers will increase the output by 5050 tons of paper.Calculate the total product for the next additional 2020 workers if their marginal product is 1010 tons of paper per month. Enter your answer in the box below and round to the nearest whole number if necessary.Problem 1 Cefel Furniture is a small furniture shop that focuses on making kitchen chairs. The weekly wwww ww dollar value of its output, including finished goods and work in progress, is 14,280. The value of inputs,such as labor,materials, and capital, is approximately 16,528. Compute the total productivity measure for Cefel Furniture. wwww Problem 2 Cefel has just purchased a new sanding machine that processes 17 chairs in 8 hours. What is the www productivity of the sanding machine? Problem 3 Cefel has hired two new workers to paint chairs. They have painted 10 chairs in 4 hours. What is www their labor productivity? Note that all the problems are connected.
- Given the following table, how many workers sh red to maximie profs Labor Marginal Product Laber VMP Wage $32 S100 32 $128 $100 16 $64 $100 4. 5-4 S100 5. -12 S-48 S100 A.A textile worker in the city of Londo n earns dollar 3500 per month. The cost of living index for a particular month is given as 136. Using the fo llowing data, find out the amounts he spent on house rent and clothin g. Group Food Group Index 180 150 Еxpenditure 1400 Clothing House Rent ? ? 100 Fuel and Lighting Miscellaneous 560 110 630 801 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16
- Charlie owns his own candy factory where he employs individuals to make his world-famous toffee. The graphs show the factory's production for one day. Charlie pays each worker $110 a day and sells his toffee for $0.50 each. Use the accompanying graph to answer the following 2080 1960 Total product questions. 1800 1600 a. Calculate the marginal product of labor (MPL) for the fifth and eighth workers. 1360 1080 760 MPL 5thworker units 400 6. 10 MPL units gth worker Ouantity of workers Quantity of toffee (units)Marginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 5 6. 120 30In the table below, marginal product becomes negative after employing the İnput of Labor (no. of workers Total Product (no. of tablets per week) 0. produced) 0. 30 68 110 4 140 135 O fourth worker. O third worker. O second worker. O fifth worker, 12 tv 123 5