Please help me and no format required. this work is due tomorrow and I would like to have some help . Thanks
QUESTION 5. 5A. Complete the table. This table is not connected to the previous question. IF you can, cut and paste the table into your answer sheet. In that way you can type in your answers. Labour Units Output or Marginal Average or Variable ProducthP) Product (AP) Resource (VRl Between 1 and No 0 units of Response labour, MP is: 0/0 = 0 Between 2 and 1 units of labour, MP IS: AND SO 0N 3 units of labour, MP ls: Between 10 and 9 units of labour, MP is: SB. At which output, does the rm begin to experience diminishing returns? 5C. Which labour and output combination(s), if any, would not be used by a profit-maximizing firm, regardless of the price of labour? 5D. Now prepare your graph paper for two graphs. Top Graph: GRAPH TOTAL PRODUCT on one graph. The Graph below: GRAPH MARGINAL PRODUCT and AVERAGE PRODUCT. Label axes and curves and title your graphs. Scan or take a picture, send to your email, then snip & paste it into your answer sheet. Use the graph from class notes as your guide. Reminder: If you use the textbook for help, the author uses Total Output, Marginal Output, Average Output rather than Total Product, Marginal Product, Average Product. SAME THING! QUESTION 4. SCENARIO: A local restaurant in Hyde Park, a neighbourhood of Chicago, Illinois, has a restaurant called Mellow Yellow. In the 19805 when Ilived in Hyde Park, they offered some of the best and simplest meals, such as a Peasant Style Lunch. A glass of wine, a small loaf of bread, French onion soup, apple, and cheese. (The restaurant is still open, but the menu looks quite different.) Their lunch specials were offered to consumers willing and able to pay the going market price. The restaurant operated in the short run with a fixed capital input. They could not increase the size of their kitchen or serving area. There were only 10 employees in the establishment. As demand for their lunch specials increased, the owner considered increasing the number of employees. Below are three statements. Explain for each statement whether you agree or disagree. If you agree, why? If you disagree, why? 4A. The Total Product of the restaurant is the quantity of meals prepared, served and delivered by the combined staff of the restaurant. 43. The Marginal Product for this restaurant is the addition to output (the meals) from hiring one more unit of a variable resource, such as line cook or server. 4C. The Average Product per worker at this restaurant is the output per worker, for example, how many meals served per wait staff