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Hi, can someone help me with this please. Jordy owns a small manufacturing rm, Jordy's Amazing Staplers, where the staplers are amazing and so is

Hi, can someone help me with this please.

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Jordy owns a small manufacturing rm, Jordy's Amazing Staplers, where the staplers are amazing and so is Jordy! Jordy uses two inputs in the production of staplers: capital and labor. Jordy's short-run production function is as given in the accompanying table. Quanmyof Label (wmkets)Quanmy Quantity-of Staplers Answer the following questions. A. Briey explain the difference between the short-run and the long-run. In Jordy's case, based on the information provided in the table, which input is the xed input and which input is the variable input? Briey explain how you made this determination. B. The Amazing Jordy makes a not so amazing statement. "When I hire two workers, I am receiving output equal to 250 units per worker. Therefore, my marginal product must be 250." Briey explain the amazing aw in Jordy's reasoning. C. What is the "Law of Diminishing Marginal Product\"? Briey explain what causes it to occur. D. Does diminishing marginal product exist with Jordy's short-run production function? If not. why not? If it does. indicate over what range of workers Jordy's rm experiences diminishing marginal product. Briey explain your reasoning

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