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. 4. Total, average, and marginal productUnderground Sandwiches, a sandwich shop, has the following marginal physical product curve (labeled MPP) for its hourly production.MPP and AP (Sandwiches per hour)2018TOTAL PHYSICAL PRODUCT (Sandwiches per hour)1614121082605448When labor increases from three to four workers, total product increases by4236Use the orange points (square symbol) to plot the total physical product curve (TPP) on the following graph. Line segments will automatically connectthe points. Assume that if there are no workers, Underground Sandwiches does not have any output, so your first point should be (0,0). Be sure toplot from left to right.302401812O23QUANTITY OF LABOR1O23QUANTITY OF LABORMPP4AP5TPPper hour.?On the graph showing the marginal physical product curve (MPP), use the purple points (diamond syn maximum the average product curve (AP) atone, two, three, four, and five workers. Line segments will connect the points automatically. Be sure teft to right.The marginal physical product curve (MPP) and average product curve (AP) always intersect at thecurve.minimumof the

The marginal product of the labor curve represents the change in the aggregate product resulting…

Answered: 4. Total, average, and marginal product…

4. Total, average, and marginal product Underground Sandwiches, a sandwich shop, has the following marginal physical product curve (labeled MPP) for its hourly production.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4. Total, average, and marginal product
Underground Sandwiches, a sandwich shop, has the following marginal physical product curve (labeled MPP) for its hourly production.
MPP and AP (Sandwiches per hour)
20
18
TOTAL PHYSICAL PRODUCT (Sandwiches per hour)
16
14
12
10
8
2
60
54
48
When labor increases from three to four workers, total product increases by
42
36
Use the orange points (square symbol) to plot the total physical product curve (TPP) on the following graph. Line segments will automatically connect
the points. Assume that if there are no workers, Underground Sandwiches does not have any output, so your first point should be (0,0). Be sure to
plot from left to right.
30
24
0
18
12
O
2
3
QUANTITY OF LABOR
1
O
2
3
QUANTITY OF LABOR
MPP
4
AP
5
TPP
per hour.
?
On the graph showing the marginal physical product curve (MPP), use the purple points (diamond syn maximum the average product curve (AP) at
one, two, three, four, and five workers. Line segments will connect the points automatically. Be sure t
eft to right.
The marginal physical product curve (MPP) and average product curve (AP) always intersect at the
curve.
minimum
of the

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Step 1: Define marginal product

Step 2: Draw the AP

Step 3: Draw the TPP

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