Bottom of Form XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs labor in the short run to increase production. Complete the following table and use that information to answer the following questions. K L Q MPL VML 5 0 0 0 5 1 50 50 100 ----- 2 125 ------- 5 3 225 100 What is the Marginal Product of Labor for the 2nd worker? Explain What is the VMPL for the 2nd worker?
Bottom of Form XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs labor in the short run to increase production. Complete the following table and use that information to answer the following questions. K L Q MPL VML 5 0 0 0 5 1 50 50 100 ----- 2 125 ------- 5 3 225 100 What is the Marginal Product of Labor for the 2nd worker? Explain What is the VMPL for the 2nd worker?
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 8P
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Question
- Bottom of Form
XYZ restaurant sells donuts at $2 per unit. It uses 5 units of capital and employs labor in the short run to increase production. Complete the following table and use that information to answer the following questions.
K |
L |
Q |
MPL |
VML |
5 |
0 |
0 |
0 |
|
5 |
1 |
50 |
50 |
100 |
----- |
2 |
125 |
|
------- |
5 |
3 |
225 |
100 |
|
- What is the Marginal Product of Labor for the 2nd worker?
Explain
- What is the VMPL for the 2nd worker?
Explain.
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