hs: Production and Costs i Saved Hel Production and Costs In. GRAPHS Production Costs CALCULATIONS Output (Q) Output MP Fixed Variable Total TP = Q- Costs ATC Marginal Costs Costs Costs 700 0.0 100 100 600 1 25.0 25.0 100 20 120 500 4.800 0.800 400 2 75.0 50.0 100 40 140 1.867 0.400 300 3 150.0 75.0 100 60 160 1.067 0.267 200 4 250.0 100.0 100 180 0.720 0.200 100 5 337.5 87.5 100 100 200 0.593 0.229 6 2 4 6 412.5 75.0 100 8 120 220 10 12 0.533 0.267 7 475.0 62.5 100 140 240 0.505 0.320 AP, MP 3 525.0 50.0 100 160 260 0.495 0.400 100 AP MP 562.5 37.5 100 180 280 0.498 0.533 60 10 587.5 25.0 100 200 300 0.511 0.800 20 11 600.0 12.5 100 220 320 0.533 1.60 2 4 6 8 10 12 12 600.0 0. 100 240 340 0.567 MacBook Pro The It $ % & 4 5 6 7 8 O E R T Y U O H KSETTINGS Reset Fixed Costs (0 - $100) 100 Productivity Index Wage Rate (0 - $40) 20 0% 25% Instructions: Click the buttons above the graphing window to show either production functions or cost functions. Type in values for Fixed Costs or Wage Rate (the cost per worker). Move the Productivity Index right to see the effect of increasing productivity by up to 25%. The table and graphs will update as Settings are changed. Choose any value for Fixed Costs and Wage Rate. Slowly move the Productivity Index slider right and then left again. Observe the changes in the table and the graph to answer the following questions: a. By how much does the output from four workers increase when productivity increases by 25% (the index moves from 0% to 25%)? units b. By how much does the output from five workers increase when productivity increases by 25% (the index moves from 0% to 25%)? units c. How is this increase shown on the production function graph (top graph)? The curve shifts upvhard. d. By how much does the marginal product of the fifth worker increase when productivity increases by 25%? units e. How is this increase shown on the marginal product graph (bottom graph)? The curve shifts downward. units MacBook Pro The It @ $ W # A 5 6 8 O W E R T Y U O D F G H K