1. Computing labor productivity and its relationship to the demand for laborSizzler's produces charcoal grills in a small manufacturing facility and sells the grills in a competitive market. The following table presents thecompany's production function:Labor(Number of workers)0OUTPUT (Grills)400360Use the blue points (circle symbol) to plot the production function for Sizzler's on the following graph.24020016012080400102345Output(Grills)09518526032035513LABOR (Number of workers)Production Function Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circlesymbol).Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of thefirst worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect thepoints.1008708MPL (Grils per worker)508308810DDWAGE (Dolars per worker)The following graph shows the demand for labor for three different prices per grill:200180160140408DD00ZONLABOR (Number of workers)MПD20U6NDC3LABOR (Number of workers)MPLO DO@Given the company's marginal product of labor curve shown on the second graph, lineprice of a grill is $1.00, and line shows Sizzler's demand for labor when the price of a grill is $1.50.on this graph shows Sizzler's demand for labor when the

Wages and demand for labor have a negative relationship. When wages rise, DL(demand for labor)…

1. Computing labor productivity and its relationship to the demand for labor Sizzler's produces charcoal grills in a small manufacturing facility and sells the grills in a competitive market. The following table presents the company's production function: Labor (Number of workers) 0 OUTPUT (Grills) 400 360 320 280 Use the blue points (circle symbol) to plot the production function for Sizzler's on the following graph. 240 200 160 120 80 40 1 2 0 3 4 5 Output (Grills) 0 95 185 260 320 355 3 LABOR (Number of workers) Production Function

1. Computing labor productivity and its relationship to the demand for labor Sizzler's produces charcoal grills in a small manufacturing facility and sells the grills in a competitive market. The following table presents the company's production function: Labor (Number of workers) 0 OUTPUT (Grills) 400 360 320 280 Use the blue points (circle symbol) to plot the production function for Sizzler's on the following graph. 240 200 160 120 80 40 1 2 0 3 4 5 Output (Grills) 0 95 185 260 320 355 3 LABOR (Number of workers) Production Function

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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Question

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1. Computing labor productivity and its relationship to the demand for labor
Sizzler's produces charcoal grills in a small manufacturing facility and sells the grills in a competitive market. The following table presents the
company's production function:
Labor
(Number of workers)
0
OUTPUT (Grills)
400
360
Use the blue points (circle symbol) to plot the production function for Sizzler's on the following graph.
240
200
160
120
80
40
0
1
0
2
3
4
5
Output
(Grills)
0
95
185
260
320
355
1
3
LABOR (Number of workers)
Production Function

Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle
symbol).
Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of the
first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the
points.
100
8
70
8
MPL (Grils per worker)
50
8
30
8
8
10
D
D
WAGE (Dolars per worker)
The following graph shows the demand for labor for three different prices per grill:
200
180
160
140
40
8
D
D
00
ZO
N
LABOR (Number of workers)
M
П
D
2
0
U
6
N
D
C
3
LABOR (Number of workers)
MPL
O DO
@
Given the company's marginal product of labor curve shown on the second graph, line
price of a grill is $1.00, and line shows Sizzler's demand for labor when the price of a grill is $1.50.
on this graph shows Sizzler's demand for labor when the

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Consider this production function. Study hours 2. 4 10 11 12 14 15 or more 13 Grade 20 33 42 50 57 63 69 73 78 81 84 86 88 89 90 1007 90 - 80 70 60 S0 40 30 20 10 Hours of study per day Select one or more: a. The average product of labour is falling as hours of study increase. O b. The marginal product of labour is constant as hours of study increase. O c. The marginal product of labour is rising as hours of study increase. U d. The marginal product of labour is zero beyond 15 hours. Final grade 9-
6
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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.
Q3) A chair manufacturer hires its assembly-line labor for $30 an hour and calculates that the rental cost of its machinery is $15 per hour. Suppose that a chair can be produced using 4 hours of labor or machinery in any combination. Graphically illustrate the isoquant and the two isocost lines for the current combination of labor and capital and for the optimal combination of labor and capital.
The Production Function for Wilson Company Economists at the Wilson Company are interested in developing a production function for fertilizer plants. They collected data on 15 different plants that produce fertilizer PLANT OUTPUT (TONS) CAPITAL ($) LABOUR (HOURS) 1 605.3 18,891 700.2 2 566.1 19,201 651.8 3 647.1 20,655 822.9 4 523.7 15,082 650.3 5 712.3 20,300 859.0 6 487.5 16,079 613.0 7…