EXPLAIN THE TABLE BELOW. WHAT HAVE YOU OBSERVED. A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITYUnits of YEmployedOutput Quantity (Q)83760961071171271287426490110 1191203752739097104314767828995243960737985317295264697327174052 54$2202421172345678Units of X EmployedThis table shows a short-run production function. Here we see what happens tooutput when increasing amounts of input X are added to a fixed amount of inputY (Y=2).76543654|FQF=HP83786458522914DUARTRON101827567584827

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A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY Units of Y Employed Output Quantity (Q) 8 37 60 96 128 107 117 127 101 110 7 42 64 90 119 120 6 37 52 73 82 90 97 104 5 31 47 75 82 89 95 4 24 39 67 73 79 85 3 17 29 58 64 69 73 2 $2 20 17 2 3 5 7 8 Units of X Employed This table shows a short-run production function. Here we see what happens to output when increasing amounts of input X are added to a fixed amount of input Y (Y=2). 83 78 64 58 52 41 29 14 LARDSHOR 67 60 52 40 POSKTRON 27

A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY Units of Y Employed Output Quantity (Q) 8 37 60 96 128 107 117 127 101 110 7 42 64 90 119 120 6 37 52 73 82 90 97 104 5 31 47 75 82 89 95 4 24 39 67 73 79 85 3 17 29 58 64 69 73 2 $2 20 17 2 3 5 7 8 Units of X Employed This table shows a short-run production function. Here we see what happens to output when increasing amounts of input X are added to a fixed amount of input Y (Y=2). 83 78 64 58 52 41 29 14 LARDSHOR 67 60 52 40 POSKTRON 27

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

EXPLAIN THE TABLE BELOW. WHAT HAVE YOU OBSERVED.

A. SHORT-RUN CHANGES IN PRODUCTION SHOWING FACTOR PRODUCTIVITY
Units of Y
Employed
Output Quantity (Q)
8
37
60
96
107
117
127
128
7
42
64
90
110 119
120
37
52
73
90
97
104
31
47
67
82
89
95
24
39
60
73
79
85
3
17
29
52
64
69
73
2
7
17
40
52 54
$2
20
24
21
17
2
3
4
5
6
7
8
Units of X Employed
This table shows a short-run production function. Here we see what happens to
output when increasing amounts of input X are added to a fixed amount of input
Y (Y=2).
76543
6
5
4
|FQF=HP
83
78
64
58
52
29
14
DUARTRON
101
82
75
67
58
48
27

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