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2. Inputs and outputs Mia's Pizzas is a takeout-only pizza parlor servicing the college campus of Syracuse that specializes in vegan pizzas. Nia's small shop
2. Inputs and outputs Mia's Pizzas is a takeout-only pizza parlor servicing the college campus of Syracuse that specializes in vegan pizzas. Nia's small shop has barely enough room for customers to stand and wait, let alone the five pizza ovens necessary to keep up with the hungry student customers. Nia signed a lease renting both the five ovens and the storefront for the next year. Due to the terms of the lease and the building's size constraint, Nia is unable to change the store's number of pizza ovens in the short run. However, Nia does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Nia contacts the staff to communicate the amount of workers needed on each day of the upcoming week. In the short run, the store employees are W inputs, and pizza ovens are W inputs. The following table presents Nia's daily production schedule. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas) (Pizzas) 0 60 100 130 150 160 1 UoRE W N e O On the following graph, plot Nia's production function using the green peints (triangle symbol). MNote: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Hint: Be sure to plot the first point at (0, 0). 200 A 120 Production Function 160 140 120 100 QUANTITY OF OUTPUT (Pizzas) 0 1 2 3 4 5 LABOR (Number of workers) Use the orange points (square symbol) to plot Nia's total cost curve on the following graph using the quantities from the preceding table. 200 180 Total Cost 160 140 120 100 TOTAL COST (Dollars) 80 40 20 40 60 80 0 120 140 160 180 200 20 QUANTITY OF OUTPUT (Pizzas) True or False: The shape of the production function reflects the law of increasing marginal returns. O True O False
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