Marginal change of Total Productivity

Related BrainMass Solutions

• Relationships between production and cost

  The Marginal Product of Labor is the change in production from each additional worker. The Total Cost of Labor is the wage rate times the number of workers (L).

• Production Function

  The marginal revenue of productivity of labor is the change in total revenue produced by a change in labour.

• What is average productivity? What is marginal productivity?

  The average productivity of a particular input, such as labor, is the total output of the firm divided by the total amount of that input, such as the number of workers. >What is marginal productivity?

• Marginal productivity discussion

  This concept is closely tied to other concepts, such as marginal product, average productivity, and marginal revenue product. Marginal product is the total output divided by the change in variable output.

• Average vs marginal productivity

  However, average productivity does not change as quickly as marginal productivity because the last worker's effect on total output is combined with all previous workers', diluting its effect.

• Product Curve

  E) directly over the old curve signifying no change in the total product graph; only the marginal product graph would change.

• Marginal and average productivity: technological innovation

  Solution - 2 Diminishing Marginal Productivity The law of diminishing marginal utility states that if a consumer goes on consuming more units of a particular product at a given point of time, his total utility or we can say productivity increases

• Production function concepts

  Increases in one input might affect cost so that a change in TR does not equal a change in Profit.
  E. The marginal rate of technical substitution will be affected by a given percentage increase in the marginal productivity of all inputs.

• determine the cost function by integral

  Fixed costs are expenses whose total does not change in proportion to the activity of a business. So when x=0, that is, no productivity, c(0)= fixed cost.