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Last summer Daniel started the Custom Made Pot Company, which specializes in earthenware pots. The number of pots produced daily varies with the number of
Last summer Daniel started the Custom Made Pot Company, which specializes in earthenware pots. The number of pots produced daily varies with the number of workers he employs as shown in Table A given below: a) Fill in the marginal and the average product of labour columns in Table A given above. )On Graph A given below, plot the average and the marginal product curvest Plot all the points of MP and AP using the tool MP and P. Once all points have been plotted, click on the line (not individual points) and a tool icon will pop up. You can use this to enter xact coordinates for your points as needed. Your Graph Score: 25% Graph A 110 100 90 MP AP 80 70 6O 50 AP MP 40 30 20 'IO Average/marginal Product Quantity of labour Assuming that the cost of employing each worker is $220 per day (including wages and materials), and Custom Made Pot has daily ixed costs of $400, fill in Table B given below: Round your AVC and MC answers to one decimal place. V Number of IF = Workers Output TVC($) 220 n (5 I Q? x N m N H J'EI ._. xw'mxw'ok U1 I 00 U1 E % E $ % E % x ) On the graph given below, plot the following points showing the quantity and dollar amounts. - point of diminishing returns (D) - most productive point (P) - economic capacity (E)
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