Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company'sproduction function:LaborOutput(Number of workers) (Shovels)1802150321042505270Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph.300270240Production Function210180150120906030LABOR (Number of workers)OUTPUT (Shovels) Calculate the marginal product of labor (MPL) of cach warker, and then plot the MPL curve on the fallowing graph using the biue points (dirclesymbol).Note: Remember to plot each point halfway between two integers. For exampie, when the number of workers increases from O to 1, the MPL of thefirst worker should be plotted with a horizontal coordinate of 0.5, the value halfway between O and 1. Line segments will automatically connect thepoints,100MPL2010LABOR (Number of worar)The following graph shows the demand for labor for three different prices per shovel:20010010014012010020LABOR (Number of workars)Given the company's marginal product of labor curve shown on the second graph, line v on this graph shows Gopher's demand for labor when theprice of a shovel is $1.50, and linev shows Gopher's demand for labor when the price of a shovel is $2.00.Oz(auon d ngl aoYMMPL (Shovets par workar)

Name: Gopher Excavators produces shovels in a small factory and sells the s
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Description: Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company'sproduction function:LaborOutput(Number of workers) (Shovels)1802150321042505270Use the blue points (circle sy

Marginal Product Line (MPL) Labor Output MPL 0 0 ------ 1 80 80 2 150 70 3 210 60 4…

Answered: Labor Output Number of workers)…

Business

Economics

Labor Output Number of workers) (Shovels) 80 2 150 3 210 4 250 270 e blue points (circle symbal) to plot the production function for Gopher Excavators on the following graph. Production Funation

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 3SQP

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QUESTION 12 A research study published in Social Science Medicine. "Production Functions for General Hospitals," estimated the following general hospital production function in the Netherlands: Q = 5*Staf 24+Beds 64Drugs 04:5pecialists 02, where Qis a measure used by the authors for patient care. Suppose a hospital currently utilizes the following inputs: Staff=10, Beds = 100, Drugs = 50, Specialists =10. Use a spreadsheet to find the following. If the hospital increases its specialists by one (1), that is, employs an 11th specialist, the increase in Q (marginal product) will be: O A. 1.23. O B. 96. OC. 83. OD. 49. O E. 31. QUESTION 13 A study published in Social Science Medicine, "Production Functions for General Hospitals," estimated the following general hospital production function: Q = 5*Staff 34-Beds 64xDrugs 04Specialits 02, where Q is a measure used by the authors for patient care. If we increase all inputs by 1%. the percentage change in Q will be: O A.5.0 O B. 1.04. OC 3.3.…
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