Marginal product of labor & production function

Does the marginal product of labor measure how output changes as the wage rate changes, or is it the average product of labor divided by the quantity of capital stock and can it be negative or is it any two of the above? If so which ones? If a company is using a single variable input (labor) and a given amount of a single fixed input (capital) and the level of capital decreases will the total product curve of labor, Average product of labor, or marginal product of labor shift downward or all of the above or none of the above? Also, if a company increases its usage of all inputs by 100% and output increases by less than 100%, is the company's production function exhibiting a decreasing ret... click for more

Diminishing returns

Is the statement, "A manager should never employ another worker if this person causes diminishing returns" correct? Why or why not? If not, why? For a short run production function in which output is figured by the # of workers utilized(capital stock held constant) which is true? When there are few workers the marginal product od labor will be constant When marginal product of labor is negative, total product is falling When diminishing returns set in, adding 1 more worker lowers output All are true All all false

Energy efficient versus economic efficiency

Builders of a hybrid car announced it would build a car that would get 180 miles per gallon of unleaded gas. They figured it would cost $40,000 per car to build. The builders wanted Congress to force US automakers to build this energy-efficient car. Is energy efficiency the same thing as economic efficiency? Please explain Under what circumstances would this energy efficent car be economically efficient? If the goal of society is to get the most benefit from its limited resources, then why not ignore economic efficiency and build this energy saving car? This sure would be nice right now!!!!

Competitive markets

Can you help me with this problem? Grocery stores & gasoline stations in a large city would appear to be examples of competitive markets: There are many relatively small sellers, each seller is a price-taker & the products are similar. 1.How could you argue that these markets are not competitive & why? 2.Could each company face a demand curve that is not perfectly elastic & why? 3.How profitable do you expect these stores and stations to be in the long run & why? Thank you

Copyright decisions

Please explain the reasons why Harley Davidson cycle company would want copyrights on the word "hog" and for exclusive rights to its engine sound. Thank you for your explanation.