Homework Answers
If the farm employs 1 worker then it can produce 30 pigs.
To produce 80 pigs the farm needs to hire 9 worker(s).
Point B on the production function tells us that to produce 60 pigs the farm needs to hire 3 worker(s).
The shape of the production function tells us that between A and B this farm's production process exhibits diminishing marginal product.
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Pigs Workers The graph above shows the production function of a small farm that raises pigs....
Pigs tt LILIW Workers 9 10 o i 2 3 4 5 6 7 8 The graph above shows the production function of a small farm that raises...
Pigs tt LILIW Workers 9 10 o i 2 3 4 5 6 7 8 The graph above shows the production function of a small farm that raises pigs. Refer to the graph to answer the following questions: • If the farm employs 9 workers then it can produce pigs. • To produce 60 pigs the farm needs to hire worker(s). Point C on the production function tells us that to produce pigs the farm needs to hire worker(s). •...
The table below describes the production function of a small cookie producer relating the quantity of...
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 0 2 5 460 As the cookie producer increases the workforce from 2 to 3 workers the production process exhibits Check mm 200000000" npt. The table below describes the production function of a small cookie producer relating...
just need answer for last one The table below describes the production function of a small...
just need answer for last one
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 60 150 90 300 150 400 100 5 460 As the cookie producer increases the workforce from 2 to 3 workers the production process exhibits increasing marginal product Check The table...
The graph above portrays the production function of a small economy wherein produce from trees makes...
The graph above portrays the production function of a small economy wherein produce from trees makes up the majority of output. The marginal product of the second ladder is marginal product sets in with ladder number and diminishing
The following table shows a short-run production function for yoga pants. Use the data to determine...
The following table shows a short-run production function for yoga pants. Use the data to determine where diminishing targinal product begins. Number of workers Total output of yoga pants 120 325 Diminishing marginal product begins when the company hires worker number
The table below describes the production function of a small cookie producer relating the quantity of...
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP O o 100 600 As the cookie producer increases the workforce from 3 to 4 workers the production process exhibits
The table below describes the production function of a small cookie producer relating the quantity of...
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 100 200 550 600 As the cookie producer increases the workforce from 3 to 4 workers the production process exhibits Check
5. Below is the production function for Tony's Tacos. Use the graph to answer the following...
5. Below is the production function for Tony's Tacos. Use the graph to answer the following questions. 1 2 3 4 5 6 A. The marginal product of the second worker? B. The marginal product of the fourth worker? C. Suppose the firm sells its output for $12 per unit, and it pays each of its workers $700 per week. The value of the marginal product of the fifth worker is? D. Suppose the firm sells its output for $12...
The following table shows a short-run production function for tablets. Use the data to determine where diminishing margi...
The following table shows a short-run production function for tablets. Use the data to determine where diminishing marginal product begins. Number of workers Total output of tablets 0 0 1 50 2 120 3 180 4 230 5 280 6 325 7 320 8 310 Diminishing marginal product begins when the company hires worker number
17) We manufacturer automobiles given the production function q = 5KL where q is the number...
17) We manufacturer automobiles given the production function q = 5KL where q is the number of autos assembled per eight-hour shift, K is the number of robots used on the assembly line (capital) and L is the number of workers hired per hour (labor). If we use K = 10 robots and L = 10 workers in order to produce q = 450 autos per shift, then we know that production is: A) technologically efficient. B) technologically inefficient. C)...
Pigs tt LILIW Workers 9 10 o i 2 3 4 5 6 7 8 The graph above shows the production function of a small farm that raises pigs. Refer to the graph to answer the following questions: • If the farm employs 9 workers then it can produce pigs. • To produce 60 pigs the farm needs to hire worker(s). Point C on the production function tells us that to produce pigs the farm needs to hire worker(s). •...
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 0 2 5 460 As the cookie producer increases the workforce from 2 to 3 workers the production process exhibits Check mm 200000000" npt. The table below describes the production function of a small cookie producer relating...
just need answer for last one
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 60 150 90 300 150 400 100 5 460 As the cookie producer increases the workforce from 2 to 3 workers the production process exhibits increasing marginal product Check The table...
The graph above portrays the production function of a small economy wherein produce from trees makes up the majority of output. The marginal product of the second ladder is marginal product sets in with ladder number and diminishing
The following table shows a short-run production function for yoga pants. Use the data to determine where diminishing targinal product begins. Number of workers Total output of yoga pants 120 325 Diminishing marginal product begins when the company hires worker number
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP O o 100 600 As the cookie producer increases the workforce from 3 to 4 workers the production process exhibits
The table below describes the production function of a small cookie producer relating the quantity of cookies produced to the number of workers employed. Use the last column of the table to enter the marginal product of each additional worker. Workers Cookies MP 100 200 550 600 As the cookie producer increases the workforce from 3 to 4 workers the production process exhibits Check
5. Below is the production function for Tony's Tacos. Use the graph to answer the following questions. 1 2 3 4 5 6 A. The marginal product of the second worker? B. The marginal product of the fourth worker? C. Suppose the firm sells its output for $12 per unit, and it pays each of its workers $700 per week. The value of the marginal product of the fifth worker is? D. Suppose the firm sells its output for $12...
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