Question 12 3 tries left A bakery hires workers to produce cakes. Construct the bakery's total product curve. On the graph, draw a point to show that with 2 workers, the bakery can produce 4 cakes a day. Label the point 1. Draw a point to show that with 5 workers, the bakery can produce 16 cakes a day. Label the point 2. Draw the bakery's total product curve over the range of 0 to 5 workers. Show both increasing and decreasing marginal returns and label the curve. >>> Draw only the objects specified in the question Output (cakes per day) 22- 20- 18- 16- 14- 12- 10- 8- 6- 2--- of 3 points Question 13 3 tries left The graph shows a firm's average fixed cost curve and average variable cost curve. Draw a curve that is approximately the firm's average total cost curve. Label it. > >> Draw only the objects specified in the question Cost (dollars per jar) 5 - AVC 3- 2- AFC n- 10 15 20 25 30 Output (jars per day) Select 3-point Curve-- of 3 points Question 5 3 tries left The market for backpacks is perfectly competitive. When a rm produces 4 backpacks a day, its average variable cost is at a minimum of $25 a backpack. 0n the graph. construct the rm's supply curve. Draw the rm's supply curve when the market price is below $25 a backpack. Label it 50. Now draw the firm's supply curve when the market price is above $25 a backpack. Label it 51. 3-3-1- Draw only the objects specied in the question. Price {dollars per backpack} Quantity [backpacks per day} Question 7 3 tries left The graph shows the revenue and cost curves for an individual producer in the maple syrup industry. The demand for maple syrup increases and the market price rises to $40 a gallon. On the graph. draw the maple grower's marginal revenue curve and label it MR1. Draw a point to show the grower's protmaximizing price and quantity in the short run. Also show the grower's economic prot or economic loss in the short run and label it. we Draw only the objects specied in the question. Price and cost {dollars per gallon} 1] 100 EDD EDD 400 EDD EDD 700 EDD EDD Quantity {thousands of gallons per year} Question 11 3 tries left In a perfectly competitive market for brooms, the price of a broom is $25. Each firm produces 6 brooms a day and maximizes its profit. On the graph, draw a firm's marginal revenue curve. Label it. Draw the firm's marginal cost curve that illustrates its profit-maximizing output. Label it. Draw a point at the profit-maximizing output and price. > >> Draw only the objects specified in the question Price (dollars per broom) 50- 45- 40- 35- 30- 25- 20- 15- 10- 5- 10 Quantity (brooms per day)Question 12 3 tries left A competitive firm produces apples. Construct the firm's short-run supply curve. On the graph draw three points on the firm's short-run supply curve: 1) When the market price of apples is $81 a crate, the firm produces 7.5 crates. Label the point 1. 2) When the market price is $47 a crate, the firm produces 6 crates. Label the point 2. 3) When the market price is $33 a crate, the firm either produces 5 crates or shuts down. This firm decides to produce 5 crates. Label the point 3. Draw the firm's supply curve above the shutdown point. Label it $1. Draw the firm's supply curve below the shutdown point. Label it $2. > > > Draw only the objects specified in the question Price (dollars per crate) 100- 80 60- 40 20 5 6 10 Quantity (crates of apples per day) Select Line Point 3-point CurveQuestion 13 3 tries left The graphs illustrate the world wheat market in longrun equilibrium. The first graph shows the world wheat market, and thesecond graph shows one wheat farmer's cost and marginal revenue curves. Now the world population increases. (in the market graph, draw the new market demand curve. Label it. Draw the market supply curve that returns the world wheat market to its long run equilibrium. Label it. Draw a point to show the new longrun equilibrium price and quantity. 0n the farmer's graph, draw a point to show the farmer's price and quantity produced in the long run. 3-3::- Draw only the objects specied in the question. Price {dollars per basket] II] 5 1D 15 20 25 30 35 40 uantit'glr [billions of baskets per year]