K L Q 10 10 1 15 10 30 10 3 50 10 4 60 10 65 10 6 68 What is the marginal product of labor for the fourth worker? Enter the number below.

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4. A firm has a linear production function Q = 16L + 8K. The price of labor, w, is $6 per unit and the price of capital services, r, is $2 per unit. Find the optimal input combination given that the firm wishes to produce 320 units of output. Illustrate your answers with a diagram.

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Using the information from the isoquant/isocost diagram to the right and assuming that PL = P = $2, complete the table below. (Enter your responses as integers.) Output Units 100 200 300 Total Cost of Output $100 $ $300 Units of Labor Demanded 25 50 Units of Capital Demanded 4 50 75 Units of capital (K) 200 175- 150- 125- 8100- 75- 50- 25+ 0+ 0 25 50 9=100 9 200 100 125 150 q=300 75 Units of labor (L) 175 200 Q Q

Nia's Pizzas is a takeout-only pizza parlor servicing the college campus of Tallahassee that specializes in vegan pizzas. Nia's small shop has barely enough room for customers to stand and wait, let alone the five pizza ovens necessary to keep up with the hungry student customers. Nia signed a lease renting both the five ovens and the storefront for the next year. Due to the terms of the lease and the building's size constraint, Nia is unable to change the store's number of pizza ovens in the short run. However, Nia does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Nia 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 inputs, and pizza ovens are inputs. The following table presents Nia's daily production schedule. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Output Marginal Product of Labor (Pizzas) Labor…

A production function is given by q = 500L + 320K. The price of capital is $120 and the price of labor is $100. What is the marginal product of capital divided by the price of capital? Answer to two decimal places.

Joe owns a coffee house and produces coffee drinks under the production function q = 5KL where q is the number of cups generated per hour, K is the number of coffee machines (capital), and L is the number of employees hired per hour (labour). What is the marginal product of labour?A. 5B. 5KC. 5LD. 5K/L

Consider a production process where flowers are grown (the output) using gardeners (labor) and greenhouses (capital). The quantity of flowers grown per day with various combinations of labor and capital are shown in the table. Fill in the marginal product of labor in the table below. (Enter your responses as integers).

Question 2: Consider the following production function that depends only on labor:Q = 2L+6L² - 3L³ 1. Compute the APL (average product of labor). 2. Compute the MPL (marginal product of labor). 3. What is the value of L* at which APL is the highest? 4. For L > L*, which one is bigger, APL or MPL? How about when I < L* and L = L* ? 5. Draw APL and MPL on the y-axis as a function of L on the x-axis. Label the point of the intersection of APL and MPL.