Use the orange points (square symbol) to plot Aliyah's total cost curve on the following graph using the quantities from the preceding table. 200 180 160 TOTAL COST (Dollars) 140 120 100 80 60 40 40 00 20 0 0 25 50 75 100 125 150 175 200 225 250 QUANTITY OF OUTPUT (Pizzas) -0- Total Cost (?) The law of diminishing marginal product of labor is demonstrated by which of the following? O Total output declines as you increase the quantity of labor. Aliyah's Pizzas is a takeout-only pizza parlor servicing the college campus of Tallahassee that specializes in vegan pizzas. Aliyah's small shop has barely enough room for customers to stand and wait, let alone the four pizza ovens necessary to keep up with the hungry student customers. Aliyah signed a lease renting both the four ovens and the storefront for the next year. Due to the terms of the lease and the building's size constraint, Aliyah is unable to change the store's number of pizza ovens in the short run. However, Aliyah does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Aliyah contacts the staff to communicate the amount of workers needed on each day of the upcoming week. In the short run, the store employees are pizza ovens are inputs. inputs, and The following table presents Aliyah's daily production schedule. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product of Labor (Number of workers) (Pizzas) (Pizzas) 0 0 1 80 2 150 3 200 4 220 AAAAA 5 230

1. What should the firm do if the marginal product obtained from the last dollar spent on capital is smaller than the marginal product derived from the last dollar spent on labor and why? Graphically illustrate.

.2. Tiva has a crafts store that makes jewelry using beads (B) and copper (C). Her productionfunction for jewelry is given byQ = B0.4C0.4Suppose she can buy beads and copper at prices PB and PC, respectively.(a) Calculate Tiva’s marginal rate of technical substitution between B and C.(b) Does this production function have increasing, constant, or decreasing returns to scale?Explain. (c) Set up the cost minimization problem you would use to calculate Tiva’s cost functionC(Q) in Lagrangian form. (Note: You do not need to solve it or derive first orderconditions.Suppose Tiva decides to branch out in her jewelry offerings by getting a 3D printer. The costof producing new 3D printed jewelry isC(Q) = 25 + Q24For the rest of this problem, assume Tiva can produce fractions of jewelry, don’t worry aboutrestricting your answers to whole numbers.(d) Compute Tiva’s marginal cost and average cost of production for 3d printed jewelry.(e) Explain why she will shut down when the market price falls…

Con Co. produces a collectible card game. Currently, the price of capital is at $50 and the price of labor is at $10. The marginal product of capital is 200 and the marginal product of labor is 30. To minimize cost of the given output, Con Co. should Use more capital Use more capital and labor Leave capital and labor as is Use more labor

Output per month Figure 6.1 A B C D E Labor per month Refer to Figure 6.1. At which point on the total product curve is the average product of labor the highest?

I 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?

ASAP!! ANSWER PLEASE  Hammas Dadani operates a business and uses the following table for total output or total product as a function of labor units used.   LABOR TOTAL OUTPUT 0 0 1 5 2 9 3 12 4 14 5 15   Calculate Marginal Product of Labor and Average Product of Labor? Plot a graph for total product, marginal product and average product separately? Does the graph indicate a situation of diminishing returns? Explain your answer.

GM cuts jobs at its Australian manufacturing unit GM will cut 500 jobs, or about 12% of its workforce, at its Australian plant because of a sharp fall in demand for its locally-made "Cruze" small car. Source: The Wall Street Journal, April 8, 2013 As GM cuts its workforce, how will the marginal product and average product of a worker change in the short run? Suppose that before the cuts the marginal product of GM workers is below their average product. As the number of workers decreases, the marginal product of a GM worker and the average product of a GM worker in the short run. increases; decreases does not change; does not change decreases; decreases increases; increases decreases; increases

Consider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-

Write out an example Cobb-Douglas production function. Derive the signsfor the relationship between labor and output and for marginal product oflabor and labor, holding other inputs fixed. Explain with economic intuition.