Use the table to answer the following questions Output of labor Quantity of output 0 0 1 300 2 550 3 700 4 800 5 850 6 890 a. Calculate the value of the marginal product of labor of the 3rd worker

Weekly production for a potter varles with the number of workers employed, as shown in the table below. Number of workers 1 2 3 4 5 Total product (units of pots) Marginal product Average product 0 90 360 486 540 435 90 90 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values.

Table 18-7 Number of Marginal Product Value of Marginal Marginal Workers Output of Labor Product of Labor Wage Profit $500 1 100 AA $1,000 $500 $500 BB 80 $ 800 $500 CC 3 DD 60 EE $500 $100 14 280 FF $ 400 $500 GG 5 HH 20 II $500 JJ Refer to Table 18-7. What is the value for the cell labeled FF? 40 100 400 30

4. At Tuxi's, tacos cost $2.50 (p=2.5) and the market wage for labor is $12.50. a. Calculate the marginal product of labor (MPE), average product of labor (APE), value of the marginal product of labor (MRPE), and value of the average product of labor (VAPE) in the chart below. Number of Tacos workers 1 15 2 28 3 38 4 47 5 54 6. 59 7 62 8 64 65 b. What's the optimal amount of labor to use? c. What would be the per-hour profits at Tuxi's if capital costs $50 per hour?

Charlie owns his own candy factory where he employs individuals to make his world-famous toffee. The graphs show the factory's production for one day. Charlie pays each worker $110 a day and sells his toffee for $0.50 each. Use the accompanying graph to answer the following 2080 1960 Total product questions. 1800 1600 a. Calculate the marginal product of labor (MPL) for the fifth and eighth workers. 1360 1080 760 MPL 5thworker units 400 6. 10 MPL units gth worker Ouantity of workers Quantity of toffee (units)

# of Pickers Total # of Strawberries Picked 180 380 580 780 940 6. 1080 7 1180 8 1160 6. 1080 Refer to Table 7-1. With which additional picker does the total product of labour diminish? the fifth the seventh the eighth the ninth 3. 4.

The table below shows data for the production of Avocados for an individual firm. Number of workers Number of Avocados 0 0 1 70 2 126 3 168 4 196 5 210 Given this data, what is the marginal product of labor when quantity increases from 1 by one unit?

How is the value of marginal product of labor (VMPL) defined? a.Price of output multiplied by the output of the last worker hired b.Price of output multiplied by the price of the last worker hired c.Price of the last worker hired d.Price of output

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.

Given the following table, how many workers sh red to maximie profs Labor Marginal Product Laber VMP Wage $32 S100 32 $128 $100 16 $64 $100 4. 5-4 S100 5. -12 S-48 S100 A.