Home
Search
Gallery
Blog
Dictionary
Textbooks
Resource Library
Flashcards
Latest Topics
Ask a Question
Home
Take a Tour
Study Tips
Help Pages
Contact Us
Gallery
Recently Added
Search
Blog
Dictionary
Add New Word
Random Term
Recent Changes
Resource Library
Share Your Resources
Recently Added
Search
Ask a Question
Log In
Sign Up
homework help
portal
Q & A Board
Gallery
Notes and Downloads
This Board
Research Articles
Entire Website using Google
Forum
Search
Advanced Search
Image Gallery
Resource Library
Browse by
Textbooks
Chat
Subjects
Recent
Posts
•
Latest Topics
•
Unanswered Questions
Top Posters
Since Sunday
17
s
5
j
4
s
4
C
3
W
3
a
3
H
3
s
3
a
3
o
3
K
3
Home
Q & A Board
Other Fields Homework Help
Business
Economics
Print
New Topic
Define the aggregate production function. Discuss why the aggregate production function exhibits ...
keagamfish
keagamfish
wrote...
Go to Answer
Posts:
70
Rep:
0
0
4 years ago
4 years ago
Define the aggregate production function. Discuss why the aggregate production function exhibits ...
Define the aggregate production function. Discuss why the aggregate production function exhibits diminishing returns.
Textbook
Macroeconomics
Edition:
12
th
Author:
Parkin
Read 28 times
1
Reply
Report
Replies
Answer verified by a
subject expert
Betty D.
Betty Davis
wrote...
#1
Answer Link
Posts:
43
Rep:
21
0
4 years ago
4 years ago
Sign in
or
Sign up
in seconds to unlock everything for free
Login with Facebook
Login with Google
Login with Twitter
More solutions for this book are
available here
The aggregate production function is the relationship that shows the maximum quantity of real GDP that can be produced as the quantity of labor employed changes and all other influences on aggregate production remain the same. The aggregate production function exhibits diminishing returns because the quantity of capital (and other resources) is fixed. As more labor is hired, the extra output produced decreases because the extra workers have less capital with which to work. As a result, the additional workers cannot produce as much additional output as did the previously hired workers.
2
2 Votes
domsantos1998
,
dianeflunder
Report
Related Topics
Solved
Define the production function. Discuss why the production function exhibits diminishing returns.
Solved
The aggregate production function shows the quantity and quality of resources used in production ...
Solved
Suppose the aggregate production function is given by the following: Y = AN. Given this information, ...
Solved
Suppose the aggregate production function is given by the following: Y = N. Given this information, ...
Solved
Suppose the aggregate production function is represented by the following: Y = AN. Given this ...
Solved
Suppose the aggregate production function is represented by Y = AN. Which of the following ...
Solved
The aggregate production function is graphed as
In the illustration above, which figure shows an aggregate production function?
Show More
keagamfish
Author
wrote...
4 years ago
This site is awesome
Harvinder
wrote...
Yesterday
Thanks for your help!!
julymontalvo
wrote...
2 hours ago
This calls for a celebration
New Topic
Quick Reply
[center][color=gray]Please [b]login or register[/b] to leave a reply[/color][/center]
Explore
Post your homework questions and get free online help from our incredible volunteers
229 People Browsing
297 Signed Up Today
Start New Topic
Take the Tour
Study Tips
Study Tools
New
Topics Trending
Browse by Textbook
Related Images
2182
246
179
Your Opinion
How often do you eat-out per week?
Never
Once
Twice
Three or more
Votes: 67
Previous poll results:
What's your favorite math subject?
Latest Blogs
Important but Disappearing Reflexes
An explanation for déjà vu
Why is sand listed as an ingredient in my potato chips?
A meta-analysis of 40 studies concludes that cinnamon can improve memory ...
A sense of control can aid recovery
Ready to ask a question on
Biology Forums
?
Try it out
Spang Corporation uses a job-order costing system with a single plantwide predetermined overhead ...
-
Accounting
Petty Corporation has two production departments, Milling and Finishing. The company uses a ...
-
Accounting
Opunui Corporation has two manufacturing departments--Molding and Finishing. The company used the ...
-
Accounting
Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the ...
-
Accounting
Which of the following statements are true? Job cost sheets contain entries for actual direct ...
-
Accounting
Prather Corporation uses a job-order costing system with a single plantwide predetermined overhead ...
-
Accounting
Henrik, a Canadian hockey player, agreed to a contract where he was to receive S30,OOO 00 in 3 mont
-
Mathematics
Mundorf Corporation has two manufacturing departments--Forming and Assembly. The company used the ...
-
Accounting
Sivret Corporation uses a job-order costing system with a single plantwide predetermined overhead ...
-
Accounting
Which of the following statements are true? The costs attached to products that have not been sold ...
-
Accounting
Loading...