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Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?
- a)60
- b)80
- c)100
- d)240
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Use this information :- Hours of labour : 0 , Total Output : 0 , Margi...
240 - 180 = 60
Most Upvoted Answer
Use this information :- Hours of labour : 0 , Total Output : 0 , Margi...
Analysis:
The marginal product of labor measures the additional output produced when one more unit of labor is added while holding all other inputs constant. It helps us understand how changes in labor input affect total output.
Given Information:
- Hours of labour:
- 0
- 1
- 2
- 3
- Total Output:
- 0
- 100
- 0
- 240
- Marginal Product:
- 0
- 100
- 80
- 0
Marginal Product of the 3rd Hour of Labour:
To find the marginal product of the 3rd hour of labor, we need to look at the marginal product value corresponding to the 3rd hour.
From the given information:
- Hours of labour: 3
- Marginal Product: 0
Since the marginal product of the 3rd hour of labor is 0, the correct answer is option 'A' (60) as none of the given options match the actual value.
Explanation:
The marginal product of the 3rd hour of labor is 0, which means that adding one more hour of labor did not contribute to any additional output. This could indicate that the additional labor input was not effectively utilized or that other factors were limiting the increase in output.
It is important to note that the marginal product can vary depending on the level of labor input and other factors. In this case, the marginal product was positive when the labor input increased from 0 to 1, indicating that the first hour of labor was productive and contributed 100 units of output. However, when the labor input increased from 1 to 2, the marginal product decreased to 80 units, suggesting diminishing returns to labor.
In the case of the 3rd hour of labor, the marginal product is 0, indicating that no additional output was produced. This could be due to factors such as inefficient use of labor or the presence of constraints on other inputs. Further analysis would be needed to determine the specific reasons behind the lack of additional output.
Overall, understanding the marginal product of labor is crucial for businesses to optimize their production processes and allocate resources effectively. By identifying the point of diminishing returns, firms can make informed decisions about their labor utilization and improve productivity.
The marginal product of labor measures the additional output produced when one more unit of labor is added while holding all other inputs constant. It helps us understand how changes in labor input affect total output.
Given Information:
- Hours of labour:
- 0
- 1
- 2
- 3
- Total Output:
- 0
- 100
- 0
- 240
- Marginal Product:
- 0
- 100
- 80
- 0
Marginal Product of the 3rd Hour of Labour:
To find the marginal product of the 3rd hour of labor, we need to look at the marginal product value corresponding to the 3rd hour.
From the given information:
- Hours of labour: 3
- Marginal Product: 0
Since the marginal product of the 3rd hour of labor is 0, the correct answer is option 'A' (60) as none of the given options match the actual value.
Explanation:
The marginal product of the 3rd hour of labor is 0, which means that adding one more hour of labor did not contribute to any additional output. This could indicate that the additional labor input was not effectively utilized or that other factors were limiting the increase in output.
It is important to note that the marginal product can vary depending on the level of labor input and other factors. In this case, the marginal product was positive when the labor input increased from 0 to 1, indicating that the first hour of labor was productive and contributed 100 units of output. However, when the labor input increased from 1 to 2, the marginal product decreased to 80 units, suggesting diminishing returns to labor.
In the case of the 3rd hour of labor, the marginal product is 0, indicating that no additional output was produced. This could be due to factors such as inefficient use of labor or the presence of constraints on other inputs. Further analysis would be needed to determine the specific reasons behind the lack of additional output.
Overall, understanding the marginal product of labor is crucial for businesses to optimize their production processes and allocate resources effectively. By identifying the point of diminishing returns, firms can make informed decisions about their labor utilization and improve productivity.
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Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer?
Question Description
Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer?.
Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Use this information :- Hours of labour : 0 , Total Output : 0 , Marginal Product : 0 ;, Hours of labour : 1 , Total Output : 100 , Marginal Product : 100 ;,Hours of labour : 2 , Total Output : 0 , Marginal Product : 80 ;,Hours of labour : 3 , Total Output : 240 , Marginal Product : 0 ;, What is the marginal product of the 3rd hour of labour ?a)60b)80c)100d)240Correct answer is option 'A'. Can you explain this answer?.
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