Number of workers 0 4 8 12 16 Number of motorcycles per year 0 9 16 21 23

Question 4 The table below describes the production function for a candy maker. Marginal Product Number of Output workers 1 30 65 3 95 4 120 135 6 140 a. Fill in the table with the values for the Marginal Product. b. Explain what diminishing marginal product is and state with which worker it sets in.

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?

Note: The answer should be typed.

The table shows the production of inpatient services at Newton-Wellesley Hospital. The hospital pays $100 a day for each medical equipment it rents and $500 a day for each doctor it hires. Labor Output (Inpatient services per day) doctors per Clinic 1 Clinic Clinic Clinic 2 40 60 day 1 3 55 75 90 100 3 4 20 40 65 75 1 65 85 100 110 3 4 Medical equipment A. Calculate ATC curves for each clinic and graph four of them on one chart. B. Draw hospital's long-run average cost curve. 75 85 2 4

Barb's Bakery employs three workers who produce 6 cakes per hour. After Barb hires a fourth worker, production increases to 12 cake per hour. Which of the following statements is TRUE? a. b. C. d. Because the marginal product of the fourth worker is greater than the average product of three workers, the average product must rise. Because the marginal product of the fourth worker is less than the average product of three workers, the average product must fall Because the marginal product of the fourth worker is less than the average product of three workers, the average product must rise. Because the marginal product of the fourth worker is greater than the average product of three workers, the average product must fall.

Question 10 Figure 1 below shows the relationship between the number of mechanics hired and the number of car repairs performed per day at a car-repair shop. Number of Cars Repaired 0 2 4 5 Number of Mechanics The production process depicted on the graph exhibits marginal product of labor. O increasing O constant O diminishing 18 17 15 12 8 00

QUESTION 18 The following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal Product Average Product of MRPL product of labor (TPL) W (MPL) labor (APL) 20 20 30 36 4 40 42 42 1. Based on the above table, how much is the marginal product (MPL) of the 3rd labor? 2. Based on the above table, which labor has the largest marginal product?

Graph the following table.   Number of Workers Total Output 0 0 1 20 2 60 3 150 4 260 5 350 6 420 7 455 8 420 9 375 10 300   What is the marginal product and average product at each level of production? Graph marginal product and average product. Label the areas on the graph of increasing marginal productivity, diminishing marginal productivity, and diminishing absolute productivity.

8 Output Marginal Labor (Q) Product I of 20 1 20 50 2 3 100 4 10 5 130 135 In the table above, what is Marginal Product (MP) between 3 and 4 units of Labor? Select one: a. 15 b. 10 C. 20 d. 25