The table below contains the production information of a company. In the table, the first column shows the firm's use of capital and the first row shows the firm's use of labor. The other figures in the table show the company's production amounts. For example, if the firm employs 200 units of capital and 150 units of labor, it can produce 3180 units of product. Labor Amount Amount of Capital 100 worker 150 worker 200 worker 250 worker 100 2200 2950 3450 3700 150 2300 3070 3585 3840 200 2390 3180 3700 3970 250 2470 3280 3810 3990 a) What is the marginal product of the workforce when the amount of capital used by the firm is fixed at 150 units and increases the labor force employment from 150 to 200 workers? b) Suppose the firm increases its capital usage from 150 units to 200 units. In (a) you have calculated the marginal product of the labor force when the capital is 150 units, when the firm increases the amount of labor from 150 to 200 workers. What is the marginal product of the workforce when the employment of the firm increases from 150 to 200 workers while the capital usage is 200 units? c) Draw the marginal product curve by calculating how the marginal product of the workforce will follow when the firm gradually increases its workforce usage from zero to 250 (for example, from 0 to 100, from 100 to 150 etc.) while the amount of capital usage of the firm is fixed at 200 units.

By looking at the graph what would you say the mean growth rate is over the sixteen years of Apple's revenue?

10.Which of the following is an example of a fixed cost? A. cost of employees who work overtime B. cost of machinery  C. cost of flour at a bakery D. cost of employees who work standard hours

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Explain the concept of economies of scale. Identify two reasons why economies of scale exist. 1-2 paragraphs

b. The Yorkshire Cricket Company makes cricket bats out of lumber supplied to it by Acme Sporting Goods, which pays Yorkshire £10 for each finished bat. Yorkshire's only factors of production are lathe operators and a small building with a lathe. The number of bats per day it produces depends on the number of employee-hours per day, as shown in the table below. Number of bats per day 0 5 10 15 20 25 30 35 Number of employee-hours per day 0 1 2 4 7 11 16 22 (i) If the wage is £15 per hour and Yorkshire's daily fixed cost for the lathe and building is £60, what is the profit-maximising quantity of bats? (ii) What would be the profit-maximising number of bats if the firm's fixed cost were not £60 per day but only £30? (iii) How would Yorkshire's profit-maximising level of output be affected if the government imposed a tax of £10 per day on the company? (Hint: This tax independent from the production level.) (iv) What would Yorkshire's profit-maximising level of output be if the government…

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.

Explanation it correctly