This is one continuous question. I'm stumped and would appreciate the help. Thank you :)))
Assume an economy has a production function that is NOT a Cobo-Douglas production function. Specifically, holding K constant at 100, the relationship between labor, N. and output ()) is the following IN 100 100 1 30 100 100 With respect to labor, can we say the production function is an increasing production function [Answer True or Falsel What is the marginal productivity of the first worker? What is the marginal productivity of the second worker? What is the marginal productivity of the third worker? I we graphed the above production function with respect to N () is on the vertical axis and labor is on the horizontal axis. we would see a production function with a positive and straight (i.s. constant) slope [Answer True or Falsol I we were to graph the labor demand curve based on the above production function. the shape of the labor demand curve would be downward sloping and have a constant slope. [ True or False] If the real wage was 30. how many ed to maximize profit? Suppose now that K increases to 200, The new relationship between labor, N. and output, Y, is the following: 200 0 0 200 1 50 200 200 With the increase in K. what is the marginal productivity of the first worker? suppose now that K increases to 200, The now relationship between labor, N. and output, Y. is the following 200 HO 200 200 200 3 71 With the increase in K. what is the marginal productivity of the second worker? suppose now that K increases to 200. The new relationship between labor, N. and output, Y, Is the following: K 200 200 200 200 With the increase in K. what is the marginal productivity of the third worker? Based on the above numbers when K-100 and when K-200, we can safely assume that N and K are complements. [Answer True or False] Based on the above numbers when K-100 and when K-200, we can safely that when K Increased, the production function shifted up and there was a rightward movement along the original labor demand curve. [ True or False] Suppose the real wage is still 30 but now the capital stock, K. Is equal to 200. Based on the above information, how many workers should the firm hire