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makes pots and then sells them
door-to-door. Here is the relationship between the number of workers and
Nimbus’s output in a given day:
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- Marty's frozen yogurt shop sells cups of frozen yogurt in a local university town. He owns 3 frozen yogurt machines. His other inputs are refrigerators, frozen yogurt mix, cups, sprinkles, and workers. He estimates that his production function when he increases the number of workers (and materials like yoghurt mix and cups) is: Quantity of Quantity of workers frozen (labor) yoghurt (cups) 1 110 200 3 270 300 320 6. 330 a) What are the fixed inputs and what are the variable inputs in this production process? b) What is Marty's VC and TC when he produces 110 cups? Assume he pays each worker $80 a day. His fixed costs are $100 a day. Other VC come to $.50 per cup of yogurt produced. Calculate the VC, FC and TC for all levels of output. c) Calculate MC for all levels of output. Page: 4Which of the following diagrams shows fixed proportion isoquants? A X1 X1 X2 X1 D X2 X1 O A OB OCI have graphed the isoquant line but I can’t figure out how to graph the isocost line? Could you verify my math and show the isoquant and isocost line graphed please?
- Tass ass Activity Number of Workers 1 2 3 4 5 6 https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%2 Last summer Daniel started the Custom Made Pot Company, which specializes in earthenware pots. The number of pots produced daily varies with the number of workers he employs as shown in Table A given below: 110 100 TP Table A 10 80 180 240 280 294 MP AP Saved 52Fnewconnect.mhe a) Fill in the marginal and the average product of labour columns in Table A given above. b) On Graph A given below, plot the average and the marginal product curves. Plot all the points of MP and AP using the tool MP and AP. Once all points have been plotted, click on the line (not individual points) and a tool icon will pop up. You can use this to enter exact co-ordinates for your points as needed. E Graph A ToolsComplete the table directly below by calculating MP and AP. Inputs ofL TP MP AP 0 01 152 343 514 655 746 807 838 82 Plot the TP, MP and AP and explain in detail the relationship between eachpair of curves. Explain why PM first rises, then declines, and ultimatelybecomes negative.Submit Estella decides to set up a lemonade stand on a hot summer day. Before long, Estella's friends all decide they would like to help. The table below shows what happens to the number of glasses of lemonade Estella and her friends can make in an hour. Instructions: Round your answers to 1 decimal places. If you are entering a negative number include a minus sign. Lemonade Stand's Labor and Production Levels Labor (workers) Total Average Product Marginal Product Product 1 (Estella) 13 22 es 3 27 4 28 24 a. Complete the average product and marginal product columns in the table above. b. How many additional glasses of lemonade can Estella produce if she has one friend help her make lemonade instead of making lemonade by herself? glasses c. How many additional glasses of lemonade can Estella produce if she has four friends help her rather than having three friends help her? glasses d. If Estella has four friends help her, on average how many glasses of lemonade can her and her friends…
- A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught: Hours Quantity of Fish (Pounds) 0 0 1 11 2 20 3 25 4 28 5 30 Complete the following table with the marginal product of each hour spent fishing. Hours Quantity of Fish Marginal Product (Pounds) (Pounds) 0 0 1 11 2 20 3 25 4 28 5 30 Graph #1 On the following graph, use the blue points (circle symbol) to graph the fisherman's production function. (graph #1 blue point = Prodution function) The production function becomes ( flatter , steeper ) ? as the number of hours spent fishing increases. The fisherman has a fixed cost of $12 (his pole). The opportunity cost of his time is $6 per hour. Graph #2 On the following graph, use the green points (triangle symbol) to graph the fisherman's total-cost curve at the following quantities of fish: 0, 11, 20, 25, 28,…. Determine the average products of capital (K) and labour (L)TR=53.5Q-0.7Q2 Calculate and draw the graphs of TR, MR, and AR
- Question 17 The average product of labour is the output per employee often in table 17.1 to answer the question below. Table 17.1 Output units 1000 2 500 6 000 7 000 8 000 C) d) Number of employees 10 20 30 50 As the number of employees increases from 10 to 50 the a) Is constant b) Falls then rises Rises FallsWhat is a production function?The table below shows the number of workers and total output. Calculate marginal and average product for each worker. Number of Workers Total Production Marginal Product Average Product 1 100 2 220 3 300 4 340 The marginal product of the third worker is Blank 1 and the average product when three workers are employed is The marginal product of the fourth worker is Blank 3 and the average product when fourth workers are employed is
