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What effect does increased labor productivity have on average cost?
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What are the determinants of average labor productivity?
Land natural resources
Can labor productivity decline as total output is rising?
NO. The labor productivity will rise together with total output. Vice versa
Why does the marginal cost curve cut through the average variable cost curve exactly at the minimum of the average variable cost curve?
Marginal cost curve cuts average cost (variable or total cost) at its minimum simply to portray the law of variable proportions. The idea is as labor is increased with capital being fixed, productivity increases upto a point and then decreases and later becomes negative. To relate the same productivity with average cost function, the average cost first decreases , reaches a minimum and then increases. Now marginal cost is just a change in the total cost. Logic says that when MC is less than AC productivity is favourable, thus cost is falling. When MC is more than AC productivity is not favourable and thus the rising portion of the cost curve. When MC = AC , the productivity that was reducing the average cost per unit has maximized and from then on starts rising cost(or decreasing productivity). That is the only point where they can intersect.
Why does Division of labor increases productivity?
specialization
What was not included in Adams Smith's theory of wealth accumulation?
When labor tasks become divided, productivity increases.
What are the determinants of average labor productivity?
Land natural resources
What is the effect of outsourcing on the labor market in the United states?
The supply of workers has increased!
What has the author Nathalie Greenan written?
Nathalie Greenan has written: 'Computers and productivity in France' -- subject(s): Computers, Economic aspects, Economic aspects of Computers, Effect of computers on, Industrial productivity 'Information technology and research and development impacts on productivity and skiils' -- subject(s): Capital productivity, Computer technicians, Computers, Economic aspects, Economic aspects of Computers, Economic aspects of Information technology, Effect of computers on, Electronic technicians, Electronics, Industrial productivity, Information technology, Labor productivity, Research, Skilled labor
What role did the division of labor play in helping to increase production during the indutrial revolution?
Division of labor, helped increase productivity and gave birth to the factory system, which entailed increased division of labor and specialization of function.
What was a effect of the Industrial Revoultion?
An effect of the industrial revolution was increased production and increased child labor. (Oh, wait, that's two. Oh well. Take your pick. =D
What effect does decreasing automation have on a company?
Decreasing automation can lead to reduced efficiency, slower production speed, increased error rates, and higher labor costs for a company. This can result in lower productivity levels and competitiveness in the market compared to companies that embrace automation.
What was the effect of the new cottonseed on the industry?
Cotton production increased, requiring more labor to harvest.
Can labor productivity decline as total output is rising?
NO. The labor productivity will rise together with total output. Vice versa
What is the average installation price per sq ft of fiberglass insulation?
As of 2014, the average installation price per sq ft of fiberglass insulation is $0.76. This is based on labor productivity rates and national average hourly labor wages.
What are some of the driving factors that contribute to the growth of productivity?
Increased productivity results in a higher standard of living as goods and services are produced in greater quantity at the same or lower level of input. The production of goods and services relies upon the use of labor and capital. Increased capital investments for new and more efficient production equipment can increase productivity by requiring a lower level of labor input to produce the same or greater level of goods. Investments in human capital such as education and training can also result in greater productivity as employees become more efficient at their jobs.
How do you increase labor productivity?
You increase labor productivity through allowing incentives as bonus and medical care as well as percentage of the profit.
Why does Division of labor increases productivity?
specialization
