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QUESTION ELEVEN The following table shows the factor-product relationship of sweet potatoes Units of labour Total Physical Product (TPP) 20 31 37 40 39 53

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QUESTION ELEVEN The following table shows the factor-product relationship of sweet potatoes Units of labour Total Physical Product (TPP) 20 31 37 40 39 53 In relation to the above table, explain . The law of diminishing returns Provide data for Average Physical Product(APP), Marginal Physical Product(MPP), and graphically plot the TPP, the MPP, and the APP " Identify the three (3) regions of production specifying why each region is ideal or not ideal for production . Explain the difference between technical maximum production and the economic maximum productionQUESTION FIVE The table below gives Runzwe's willingness to pay (utility) for various hours of on-line Computer access per week. Suppose that Rungwe's marginal utility is measured in Zambian Kwacha. On-line time is priced at K12 per hour. No of Hours (Q) Total Utility (Kwacha) 1 20 2 38 54 4 68 80 6 90 7 98 104 A. Calculate the marginal utility for each hour. B. How many hours of on-line service will Bungwe purchase? C. Compute Bungwe's consumer surplus for this good.QUESTION ONE Referring to the Table below, Answer question: A to G. %Resource: Devoted To Number Of 9% Resources Devoted To Butter Kilograms Gun Production Guns Production Of Butter 100 50 0 0 80 40 20 5 60 30 40 10 40 20 60 15 20 10 80 20 0 0 100 25 A. Plot the production possibilities curve for the production of guns and butter. Put guns on the horizontal axis. B. What is the per unit opportunity cost of increasing the production of guns from 20 to 30? From 40 to 50? C. What happens to the opportunity cost of producing guns as the production of guns increases? D. What is the per unit opportunity cost of increasing the production of butter from 10 to 15? From 20 to 30? E. What happens to the opportunity cost of producing butter as the production of butter increases? F. Given this production possibilities curve, is producing 26 guns and 13Kg of butter possible? G. Is producing 34 guns and 7Kg of butter possible? Is it efficient

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