Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. The table gives the total product schedule for Flora's Flower Shoppe.If Flora increases the number of workers she hires from 2 to 3,marginal product isbouquets.If Flora increases the number of workers she hires from 3 to 4,marginal product is bouquets.A. 50; 70B. 190; 230O C. 70; 70O D. 70; 40Labor(workers)0GAWNO12345Output(bouquets per hour)050120190230150 When the price of a CD player falls from $110 to $90 and other things remain the same,1. the quantity demanded of CD players increases from 40 to 60 an hour,2. the quantity demanded of MP3s decreases from 105 to 95 an hour, and3. the quantity demanded of CDs increases from 276 to 324 an hour.With knowledge of the cross elasticity of demand for CDs with respect to CD players and the cross elasticity of demand for MP3s with respectto CD players, the owner of a business that sells CDs and CD playersA. can calculate the effect of a change in a price of a CD player on his competition that sell MP3sB. can determine the price of a CD player that maximizes his revenue from CDs and CD playersC. can calculate the quantity of MP3s suppliedD. can calculate the quantity of CDs suppliedO E. Both A and B are correct.Click to select your answer.

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The table gives the total product schedule for Flora's Flower Shoppe. If Flora increases the number of workers she hires from 2 to 3, marginal product is bouquets If Flora increases the number of workers she hires from 3 to 4, marginal product is bouquets. O A. 50; 70 O B. 190; 230 O C. 70; 70 O D. 70; 40 Labor (workers) 0 12345 2 5 Output (bouquets per hour) 0 50 120 190 230 150

The table gives the total product schedule for Flora's Flower Shoppe. If Flora increases the number of workers she hires from 2 to 3, marginal product is bouquets If Flora increases the number of workers she hires from 3 to 4, marginal product is bouquets. O A. 50; 70 O B. 190; 230 O C. 70; 70 O D. 70; 40 Labor (workers) 0 12345 2 5 Output (bouquets per hour) 0 50 120 190 230 150

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 8P

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Total product (meals per hour) 24 20 TP 16 12 2 Quantity of labor (workers) The figure shows the total product curve for the Fruit Bowl food truck. If the food truck increases production from 10 to 17 meals per hour, the marginal product is in the range where it and the marginal product is the average product. O A) increases; greater than B) decreases; greater than C) increases; is equal to D) does not change; is equal to O E) increases; less than 4.
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In the example presented by this graph, at what number of workers does the point of diminishing marginal product occur? The Production Function and Marginal Product Total Output 70 Total output Marginal Number (number of meals of workers served per hour) product of labor 30 10 10 15 15 9 10 Number of workers 1234 S678 30 la) 12 42 Marginal Product of Labor 10 52 15 60 10 65 67 -5 -10 123456789 10 Number of workers (b) Click to view larger image. a. Ninth worker b. Second worker С. c. Fourth worker d. Third worker
workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 can you explain diminishing marginal product based on these numbers?
Output (units per day) 19 17 15 54 14 7 2 1 1 1 I 1 F 1 I 1 1 I I 1 I 1 1 1 1 1 T II II LI I 1 1 1 1 1 F 2 1 1 I T 1 3 4 Labor Input (workers per day) 5 Total output The marginal product of the sixth unit of labor in the figure above is: A. 4.0 B. -4.0 C. 15.0 D. 2.5 E. NONE OF THE ABOVE
TOTAL AND MARGINAL PRODUCT Total Product [Output] 70 60 50 40 30 20 10 0 Marginal Product 20 10 0 -10 -20 1 Labor Input 1 2 2 2 3 3 4 5 5 6 6 7 7 8 Labor Input 8 Reset Labor Input 8 EEPRODUCTIVITY CALCULATIONS Labor Input 0 Output 0 Marginal Product structions: Move the slider at the bottom of the diagram to change the quantity of labor hired for both graphs and the table. ) What is the marginal product of the third worker? ) What is the marginal product of the fifth worker? c) If units of output are sold for $0.80 each, how much revenue does the firm gain by selling the additional units attributed to the 3rd worker? $ How much revenue does the firm gain by selling the additional output from the fifth worker? $