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 16 14 12 10 6 2 2 3 QUANTITY OF LABOR MPP डे. When labor increases from three to four workers, total product increases by ? per hour.
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 16 14 12 10 6 2 2 3 QUANTITY OF LABOR MPP डे. When labor increases from three to four workers, total product increases by ? per hour.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text: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
16
14
12
10
8
6
2
2
3
QUANTITY OF LABOR
MPP
AP
When labor increases from three to four workers, total product increases by
?
per hour.
Transcribed Image Text: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.
TOTAL PHYSICAL PRODUCT (Sandwiches per hour)
3399*R
30
24
D
3
QUANTITY OF LABOR
-P
TPP
On the graph showing the marginal physical product curve (MPP), use the purple points (diamond symbol) to plot the average product curve (AP) at
one, two, three, four, and five workers. Line segments will connect the points automatically. Be sure to plot from left to right.
curve.
The marginal physical product curve (MPP) and average product curve (AP) always intersect at the
of the
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