lobster potato input Yukon 1 lobster / 10 workers 1 potato / 1 worker 10 workers Qubec 1 lobster / 5 workers 1 potato / 5 workers 20 workers Nova Scotia 1 lobster / 1 worker 1 potato /5 workers 10 workers 7. * 4 With the number of workers on the horizontal axis, sketch this economy's lobster pro- duction function. 8. 6 With the number of workers on the hor- izontal axis, sketch this economy's marginal prod- uct for lobster. 9. *** 8 Does the marginal product in item 8 increase or decrease with output? Explain why. 10. ** 4+8 Suppose that lobster production re- quires labor input only. Lobster sells for $10 apiece and the wage rate is $2 per worker. If the econ- omy spares 5 workers for lobster production, how much is the marginal profit and is this economy maximizing the profit from lobster production? Ex- plain. lobster potato input Yukon 1 lobster / 10 workers 1 potato / 1 worker 10 workers Qubec 1 lobster / 5 workers 1 potato / 5 workers 20 workers Nova Scotia 1 lobster / 1 worker 1 potato /5 workers 10 workers 7. * 4 With the number of workers on the horizontal axis, sketch this economy's lobster pro- duction function. 8. 6 With the number of workers on the hor- izontal axis, sketch this economy's marginal prod- uct for lobster. 9. *** 8 Does the marginal product in item 8 increase or decrease with output? Explain why. 10. ** 4+8 Suppose that lobster production re- quires labor input only. Lobster sells for $10 apiece and the wage rate is $2 per worker. If the econ- omy spares 5 workers for lobster production, how much is the marginal profit and is this economy maximizing the profit from lobster production? Ex- plain