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A) In the example presented by this graph, what is total output when the fifth worker is added? See Figure. The Production Function and Marginal
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In the example presented by this graph, what is total output when the fifth worker is added? See Figure. The Production Function and Marginal Product Total output Marginal Total Number (number of meals product of Output of workers served per hour] labor 70 50 un 5 30 10 10 2 15 15 1 2 3 4 5 6 7 8 9 10 Number of 30 workers 12 (a) 42 Marginal 10 Product of Labor 8 15 60 10 5 65 5 2 CO 67 -5 63 -10 1 2 3 4 5 6 7 8 9 10 Number o 10 55 workers (b)() 50 meals served per hour @ 52 meals served per hour () 54 meals served per hour () cannot be determined with the given information. According to the long-run total cost table below, at between what quantities produced do the diseconomies of scale start? Total Long-Run Product Total Cost 10 $200 20 300 30 450 40 600 50 1,000 () between 0 - 10 units of output () between 40 - 50 units of output () between 20 - 30 units of output () between 30 - 40 units of output According to the figure below, what is the firm's TVC at 6,000 units of output? Cost per unit 1234667809 Quantity {in 1,000s) O $4.00 O $7.00 O $24.00 O $24,000 According to the figure, what is the firm's TFC? Cost per unit 1 2 2 4 6 6 7 8 8 Quantity (in 1,000s) ) $1.5/unit O $24000 O $9.000 O $3.000 In the example presented by this graph, at what number of workers does the point of diminishing marginal product occur? See Figure. The Production Function and Marginal Product Total output Marginal Total Number (numberof meals product of Output of workers served per hour) labor 70 a o 50 > 5 > 10 10 2 15____%___&% o ,d_ff':"' 123 456 7 8 9 10 Numberof 3 30 workers > 12 @ 4 4:______5__ 10 5 g > 8 6 &0 > 5 7 Hh\"'h, 2 .,'''_'_'_'_'_'_'_'_ 67 >-4 9 63 >" 12345678 510 Numberof 10 55 workers (b) O 2nd worker O 3rd worker O 4th worker O 9th workerAccording to the figure, at what quantity produced that the diminishing marginal returns set in? 9 MC.. Cost per unit -.!.. . .!. . . - NW -.. . O 1 2 3 4 6 8 9 Quantity (in 1,000s) O 1,000 units of output because this is where the MC AVC. O 6,000 units of output because after this quantity MC>ATC.What is marginal product of the fourth worker? See Figure. The Production Function and Marginal Product Total output Marginal Total Number (number of meals product of Output of workers served per hour) labor 70 0 0 50 5 30 10 10 N 15 15 0 w 30 1 2 3 4 5 6 7 8 9 10 Number of workers 12 (a) 42 Marginal 10 Product of Labor 15 - 60 10 5 65 5 2 0 CO 67 -5 63 -10 10 1 2 3 4 5 6 7 8 9 10 Number of 55 workers (b)Step by Step Solution
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