Exercice 2: (5 points) A court terme, une firme peut faire varier la flexibilité du travail mais ne peut modifier le volume de capital. Le tableau suivant montre la variation de la production lorsque seul le travail change. Tableau: Production du facteur travail Facteur travail (ouvriers par semaine) Production (biens par semaine) 0 0 1 35 2 80 3 122 4 156 5 177 6 180 1-Définissez et Calculez la productivité marginale du travail ($P_m$) ainsi que sa productivité moyenne ($P_m$). 2-Á quel niveau de travail se produisent les rendements décroissants ? Questions: (3points) 1) Quel est le signe de l'élasticité croisée entre les biens suivants, justifiez votre réponse: - Thé et Sucre - Voiture et Viande. 2) Expliquer la notion de la loi de l'utilité marginale décroissante
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The marginal productivity of labor ($P_m$) is the increase in production resulting from the hiring of an additional worker. The average productivity of labor ($P_M$) is the total production divided by the number of workers. Show more…
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1) Rubber Dinghie's total product schedule is Labour( workers per week) Output( Dinghie's per week) 1 1 2 3 3 6 4 10 5 15 6 21 7 26 8 30 9 33 10 35 a) draw the total product curve b) calculate the average product of labour and draw the average product curve. c) calculate the marginal product if labour and draw the marginal product curve. d) what is the relationship between average product and marginal product when Rubber Dinghie's produces i) fewer than 30 dinghies a week and ii) more than 30 dinghies a week? 2) In problem 1, the price of labour is $400 a week and total fixed cost is $1,000 a week. a) calculate total cost, total variable cost, and total fixed cost for each output. b) calculate average total cost, average fixed cost, average variable cost, and marginal cost at each output. 3) In problem 3, suppose Rubber Dinghie's total fixed cost increases to $1,100 a week. Explain what changes occur in the short-run average and marginal cost curves.
Akash M.
Suppose there are two goods, Machines (M) and Food (F), and three factors of production: Labor (L), Capital (K), and Land (T). The production functions are as follows: QM = AMK^(1/4)LM^(3/4) QF = AFT^(3/4)LF^(1/4) where QM is the quantity produced of M, QF is the quantity produced of F, LM is the amount of labor that is employed in sector M, and LF denotes labor employed in sector F. There is a total of L units of labor, and we assume that the labor market clears: LM + LF = L (a) Derive the Production Possibilities Frontier in this economy. (Let QM be on the horizontal axis, that is, express QF as a function of QM) (b) Suppose that K = 50, T = 100, L = 50, and AM = AF = 1. Draw the PPF (as much as possible to scale; try using graph paper). Label the values of QM and QF for at least four points. (c) Suppose that the amount of L increases from 50 to 100. Draw the new PPF. How much Food can the country produce when QM = 0? How many Machines can the country produce when QF = 0? (d) Suppose that the amount of T increases from 100 to 200. Draw the new PPF. How much Food can the country produce when QM = 0? How many Machines can the country produce when QF = 0? (e) Suppose that AM increases from 1 to 2. Draw the new PPF. How much Food can the country produce when QM = 0? How many Machines can the country produce when QF = 0?
Andreas P.
3. The marginal product of labor curves corresponding to the production functions in problem 2 are as follows: Workers Employed 5 10 15 20 25 30 35 40 45 50 MPL in Sector 1 5.4 2.3 1.76 1.74 1.94 1.76 1.58 1.16 1.18 1.18 MPL in Sector 2 3.96 2.28 2.22 1.96 1.7 1.68 1.68 1.6 1.54 1.38 a. Suppose the price of wheat relative to that of leather is 5. Determine graphically the wage rate and the allocation of labor between the two sectors. b. Using the graph drawn for problem 2, determine the output of each sector. Then confirm graphically that the slope of the production possibility frontier at that point equals the relative price. c. Suppose the relative price of wheat rises to 8. Repeat (a) and (b). d. Calculate the effects of the price change from 5 to 8 on the income of the spe- cific factors in sectors 1 and 2.
Aarya B.
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