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- Oceanic Pacific decided to conduct a series of experiments to determine the amount of tuna that could be caught with different crew sizes. The results of these experiments follow. Number of Daily Tuna Fishermen Catch (Ib.) 50 110 2 300 450 590 665 4 6. 700 725 710 a. Determine the point at which diminishing returns occurs. b. Stage 2 starts at the point where labor is c. The most technically efficient level of output is somewhere between d. Stage 2 ends at the point where labor isThe iso revenue function will shift up parallel: a. If the prices of one product increases. b. If the prices of inputs increase. If the revenue is increased. d. All of the above are cotrectDiscuss how total earnings are determined for both piece-rate and time-rate workers
- labor economics please answer the question clearly with a graph as required 02. Why does a profit-maximizing firm hire workers up to the point where the wage equals the value of marginal product? Show that this condition is identical to the one that requires a profit-maximizing firm to produce the level of output where the price of the output equals the marginal cost of production.QUESTION The marginal revenue product of labor at the local sawmill is MRPL = 20 - 0.5L, where L = the number of workers. If the wage of sawmill workers is K10 per hour, then how many workers will the mill hire? What factors that determine demand for labour by the firm? Who are the main actors in the labour markets? What are their roles?Describe the need to be flexible in their approach to work, responding positively to changes or amendments required by the business.
- please don't copy from chegg otherwise I will give you downvote I want you answer in detail. I'm not satisfied with other answer. if you are not sure do not answer. Suppose there is a town with 800,000 people. 200,000 of these people work full-time while 240,000 work part-time. 180,000 of these part-time workers want to work more hours, but are not permitted to do so by their respective employers. Another 85,000 individuals in this town are under the age of 16. 275,000 other individuals are currently not working. 215,000 of these individuals are actively seeking work, while 60,000 individuals have given up looking for a job. Of the 215,000 who are actively seeking work, 150,000 lost their jobs due to the effects on business losing demand due to COVID-19. 30,000 of the 215,000 lost their jobs due to technological advancements, and the remaining 35,000 are not working due to normal turnover in the labor force. Solve for the labor force in this community. Solve for the number of people…Why should a business owner be concern with the inflation rate in the Dairy products industry, and how might it have an impact on the Dairy products industry?Assume an upward labour supply curve in wage (?) and employment coordinate system. Calculate the elasticity of labour supply if employment increases from 100 to 120 when wage increases from 100 to 110. Provide a plot for the labour supply with these points. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
- The numbers of workers hired____ people.... The posible answer should be: a)falls by 10,000 b) falls by 6,000 c) rises by 9,000 d) rises by 10,000What is Job Match Quality? a. The marginal product associated with the match of a particular worker with a particular job. b. The average product associated with the match of a particular worker with a particular job. c. The total product associated with the match of a particular worker with a particular job. d. The joint product associated with the match of a particular worker with a particular job.Hi- please answer both A and B A construction company has two types of employees: skilled and unskilled. A skilled employee can build 1 yard of a brick wall in one hour. An unskilled employee needs twice as much time to build the same wall. The hourly wage of a skilled employee is $15. The hourly wage of an unskilled employee is $8. a) Write down a production function with labor. The inputs are the number of hours of skilled workers, LS, the number of hours worked by unskilled employees, LU, and the output is the number of yards of brick wall, Q. b) What is the cost-minimizing way to build 100 yards of a wall?