Question 1 (5 points) Listen When Emily's computer factory hires two workers, the total product is 250 computers. When Emily hires three workers, the total product is 260 computers. And when she hires four workers, the total product is 265 computers. The slope of the marginal product curve between two and four workers hired is: a) infinite. O b) zero. O c) positive. O d) negative.Question 2 {5 points} all (Figure: The Average Total Cost Curve for Shoes) Use Figure: The Average Total Cost Curve for Shoes. The total cost of producing three pairs of shoes is approximately: Mange total cost of pair of shoes 5140 "m: 120 100 80 ED M 40 20 U 1 2 3 4 5 6 IF B 9 1G uantity of shoes (pairs) 0 3) SETS. 0 '3] $216. 0 C) $24. 0 5\" rm. Question 3 (5 points) ) Listen (Table: Labor and Output for Cappuccinos) Use Table: Labor and Output for Cappuccinos. The marginal product of the second worker is: Table: Labor and Output for Cappuccinos Quantity of Number of Labor Cappuccinos 0 0 1 12 2 22 3 30 4 36 5 40 6 43 44 ( a) 36. O b) 9. O c) 10. O d) 6.Question 4 (5 points) ) Listen Terrence makes headphones for mobile devices. When 50 headphones are produced in the short run, the average variable cost is $30. Fixed costs are greater than zero. Therefore, Terrence's average cost is a) total; $30 Ob) total; greater than $30 c) total; less than $30 O d) fixed; $30Question 5 (5 points) () Listen (Table: Cupcakes at Dessert Delight) Use Table: Cupcakes at Dessert Delight. Pamela is opening a pastry shop in which she will make and sell special birthday cupcakes. She is trying to decide how many mixers to purchase. Her estimated fixed and average variable costs, if she purchases 1. 2, or 3 mixers, are shown in the table. Assume that average variable costs do not vary with output. If Pamela purchases 3 mixers and bakes 200 cupcakes per day, what is her average fixed cost? Table: Cupcakes at Dessert Delight Number of Fixed Costs Average Mixers Variable Cost 1 $1,000 $10 2 1,500 7 3 2,500 4 Oa) $12.50 ( b) $2.50 O c) $5.00 ( d) $0.05Question 6 {5 points] it} Listen When Cece's boot factory hires two workers, the total product is 5U pairs of boots. 'When she hires three workers= the total product is 50 pairs of boots, and when she hires four workers, the total product is T5 pairs of boots. The slope of the marginal product curve between two and four workers hired is: O C} negative. 0 d} positive. Question 7 (5 points) () Listen (Table: Total Product and Marginal Product for Knick Knacks) Use Table: Total Product and Marginal Product for Knick Knacks. The total product of three workers is units per period. Table: Total Product and Marginal Product for Knick Knacks Labor per Day Number of Knick Knacks (per period) 0 0 1 10 2 30 3 70 4 90 5 100 6 107 7 110 8 105 ( a) 70 O b) 150 O c) 110 O d) 40Question 8 (5 points) 1 Listen If the marginal cost of the first Lakers jersey is $21, the marginal cost of the second Lakers jersey is $40, and the marginal cost of the third jersey is $17, what is the total variable cost of producing three jerseys? ( a) $78 O b) $61 O c) $17 ( d) $26Question 9 {5 points) all (Table: Costs of Producing Bagels at the Bagel Factory) Use Table: Cost of Producing Bagels at the Bagel Factory. Christophe recently purchased a Bagel Factory franchise that he opened in Park Slope, Brooklyn. His costs are given inthe table below. The average total cost of producing 6 bagels is: Table: Costs of Producing Bagels at the Bagel Factory Quantity of Total Variable Total Fixed Bagels l[per Costs Costs period) C) Lu ll.\" 09 O a} $0.20. 0 b} $0.13 0 C} $43.80. 0 C\" $0.10. Question 10 (5 points) () Listen (Table: Costs of Wedding Cakes) Use Table: Costs of Wedding Cakes. Assume that fixed costs are $10. What is the average variable cost of 2 wedding cakes? Table: Costs of Wedding Cakes Quantity of Cakes Variable Cost, VC 0 0 1 15 2 25 3 30 4 38 5 50 6 70 ( a) $25.00 b) $35.00 O c) $12.50 O d) $40.00