Urgent Essay Help-What does it mean for a production to exhibit “diminishing returns to labor”

Urgent Essay Help-What does it mean for a production to exhibit “diminishing returns to labor”

What does it mean for a production to exhibit “diminishing returns to labor”? Use the appropriate diagram(s) to illustrate your answer

Acme Manufacturing Company requires all of its 6000 employees to take a drug test.  Suppose 3% of the employees actually use drugs (although the company does not know this number).  The drug test is 95% accurate.

  1. How many of Acme’s employees use drugs?
  2. How many of the employees who use drugs get a positive test result?
  3. How many of the employees who do not use drugs get a positive test result?
  4. Of the employees who get a positive test result, how many of them use drugs?  Convert this to a percentage: What percent of people who get a positive result actually use drugs?
  5. State a conclusion about the accuracy of the test.