Homework(Ch 13) On the following graph, plot Amy's production function using the green points (triangle symbol). Note: 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). 200 180 Production Function 160 140 120 100 QUANTITY OF OUTPUT (Pizzas) 80 60 40 20 0 2 3 4 LABOR (Number of workers)CENGAGE |MINDTAP Q Sea Homework(Ch 13) Total Cost 160 140 120 100 TOTAL COST (Dollars) 80 50 10 20 0 0 20 40 60 80 100 120 140 160 180 200 QUANTITY OF OUTPUT (Pizzas) The law of diminishing marginal product of labor is demonstrated by which of the following? Total output increases at a decreasing rate as you increase the quantity of labor. Total output increases only when you increase both labor and ovens. Total output declines as you increase the quantity of labor. Grade It Now Save & Continue Continue without savingCENGAGE |MINDTAP Homework(Ch 13) 2. Inputs and outputs Amy's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Amy's very tiny kitchen has barely enough room for the three ovens in which her workers bake the pizzas. Amy signed a lease obligating her to pay the rent for the three ovens for the next year. Because of this, and because Amy's kitchen cannot fit more than three ovens, Amy cannot change the number of ovens she uses in her production of pizzas in the short run. However, Amy's decision regarding how many workers to use can vary from week to week because her workers tend to be students. Each Monday, Amy lets them know how many workers she needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Amy's daily production schedule is presented in the following table. 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 0 60 N 100 w 130 4 150 5 160