Please double check my table and graph and answer questions 3,4, and 13

3 What quantities of labor, in hours, would be considered rational to employ? 4 Would you ever want to employ 10 hours of labor in this example? Explain why or why not. 5 The City Inspection Agency discovers that your frying oil emits a gas that is killing the local squirrel population. You must use a different type of cooking oil. To your dismay, cooking with the new oil is not as efficient because the chicken requires a longer cooking time. Discuss the likely effects of the new oil on the production function, and show the shift in TPP on Graph 1. 6 Give an example of fixed and variable factors of production other than those mentioned in the chapter. 7 Examine Graph 1 and estimate the quantity of input at which the law of diminishing marginal returns begins to take effect. 76 PART TWO: MICROECONOMIC CONCEPTS 8 Under what circumstances would your Hungarian chicken wing restaurant make decision that would be classified as a long-run decision? Give an example of such decision, and explain how it differs from short-run decisions. 9 Is maximizing profits the only objective of the operator of a business in the shor. run? In the long run? What other objectives are possible? What effect does pursuling these other objectives have on profit in the short run? In the long run? 10 Consider the following production function: G=f(H), where G is the number of points scored on the most recent exam you took and H is the number of hours you spent studying for that exam. Sketch the TPP, APP, and MPP of H, using numbers appropriate to your own case. 11 Suppose you rent an apartment for $600 per month. Would you ever choose to spend? day in your apartment just because, "this place cost me about $20 per day?" Why or why not? 12 In Chapter 1, you learned how the declining number of farmers has adversely affected many rural communities. One argument used to justify spending public money to maintain these communities is that it doesn't make sense to abandon. perfectly good infrastructure. Analyze this argument using fixed, variable, and marginal cost concepts. 13 What are the fixed and variable costs associated with your taking this class? Dutput