Daily production for Pot-Works, a flowerpot maker, varies with the number of workers employed, as shown in the table below.a. Fill in the table. Include a minus sign (-) for any negative values entered below.(1)Labour(workers perday)(2)(3)(4)Total Product Marginal Product| Average Product(pots per day)(pots per day)(pots per day)18022204054440425b. In which employment range is marginal product rising? falling and positive? negative?Marginal product is rising when the first, second, and third workers are hiredand total product in this range is rising fairly quicklyMarginal product is falling and positive when the fourth worker is hired v, and total product in this range is rising at a slower pace vMarginal product is negative when the fifth worker is hired, and total product in this range is fallingC. Draw the total product curve on one set of axes and the average product and marginal product curves on he other set of axesbelow. In the left graph, use the tools provided to plot points for the total product curve at each employment level up to 5 workers, including the point (0, 0), for atotal of 6 points. In the right graph plot 5 points each for the average and marginal product curves for a total of 10 points (exclude the origin point for both curves).Remember that marginal values such as marginal product are plotted halfway between the two relevant employment levels on the horizontal axis.

b) Labor TP MP AP = TP/L 0 0 -------- -------- 1 80 80 80 2 220 140 110 3 405 185 135 4…

e table. Include a minus sign (-) for any negative values entered below. (2) (3) Total Product Marginal Product Average Product (pots per day) (4) per (pots per day) (pots per day) 80 220 405 440 425 mployment range is marginal product rising? falling and positive? negative? oduct is rising when the first, second, and third workers are hired and total product in this range is risin pduct is falling and positive when the fourth worker is hired and total product in this range is rising at oduct is negative when the fifth worker is hired and total product in this range is falling

e table. Include a minus sign (-) for any negative values entered below. (2) (3) Total Product Marginal Product Average Product (pots per day) (4) per (pots per day) (pots per day) 80 220 405 440 425 mployment range is marginal product rising? falling and positive? negative? oduct is rising when the first, second, and third workers are hired and total product in this range is risin pduct is falling and positive when the fourth worker is hired and total product in this range is rising at oduct is negative when the fifth worker is hired and total product in this range is falling

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Marginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 5 6. 120 30
ull touch LTE 10:11 PM @ O 35% Done A docs.google.com AA C account * Required Section C Which of the following statements is true? * If average product equals marginal product, average product decreases. If marginal product equals average product, marginal product is a maximum. If marginal product equals average O product, average product is a maximum. If marginal product exceeds average product, marginal product increases.
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1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16
SHOW FORMULAS ON EXCEL PLEASE STEP BY STEP
1. Complete the Table: Capital (K) 1 1 1 1 1 1 1 Labor (L) Total Product (TP) 10 1 2 3 4 5 6 7 8 9 10 22 37 ? 58 64 ? 67 64 ? Average Product (AP) 10 ? 12.33 12.25 ? 10.67 9.57 8.38 ? 5.8 Marginal Product (MP) 10 12 ? 12 9 ? 3 ? -3 -6
12
please computation for the following production function. found in table 13 show computation for each row.
This doesn’t seem doable as I don’t understand the question or values meant to be found.