A shoe factory has 500 employees and produces a thousand pairs of shoes per hour.What is the shoe factory’s productivity per worker per hour?____________.The factory hires one new worker. Now, the factory produces 1,002 shoes per hour. Thenthe factory hires one more worker. Production rises to 1,004 per hour. Does the factoryhave diminishing, constant, or increasing marginal returns at this level of production?Graph the production function (total product curve) of the shoe factory at these levels of production, carefully labeling all lines and points. (need a clear and properly labelled diagram please)

Here, given information is: Number of employees= 500 Total output= 1000 pairs of shoes per hour

Answered: A shoe factory has 500 employees and…

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ISBN:9780190931919

Author:NEWNAN

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Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A shoe factory has 500 employees and produces a thousand pairs of shoes per hour.

What is the shoe factory’s productivity per worker per hour?____________.
The factory hires one new worker. Now, the factory produces 1,002 shoes per hour. Then

the factory hires one more worker. Production rises to 1,004 per hour. Does the factory

have diminishing, constant, or increasing marginal returns at this level of production?
Graph the production function (total product curve) of the shoe factory at these levels of production, carefully labeling all lines and points. (need a clear and properly labelled diagram please)

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