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Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor Output (Number of workers) (Shovels) 90 175 3. 245 300 325 Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. (? 400 360 Production Function 320 280 240 200 160 120 80 40 2. LABOR (Number of workers) Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect t points. OUTPUT (Shovels)

Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor Output (Number of workers) (Shovels) 90 175 3. 245 300 325 Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. (? 400 360 Production Function 320 280 240 200 160 120 80 40 2. LABOR (Number of workers) Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect t points. OUTPUT (Shovels)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. 100 MPL 80 30 20 10 21 3. 4. LABOR (Number of workers) The following graph shows the demand for labor for three different prices per shovel: 200 180 M. 160 140 120 100 40 20 LABOR (Number of workers) Given the company's marginal product of labor curve shown on the second graph, line on this graph shows Gopher's demand for labor when the price of a shovel is $1.50, and line v shows Gopher's demand for labor when the price of a shovel is $2.00. MPL (Shovels per worker) WAGE (Dollars per worker)
Transcribed Image Text:Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. 100 MPL 80 30 20 10 21 3. 4. LABOR (Number of workers) The following graph shows the demand for labor for three different prices per shovel: 200 180 M. 160 140 120 100 40 20 LABOR (Number of workers) Given the company's marginal product of labor curve shown on the second graph, line on this graph shows Gopher's demand for labor when the price of a shovel is $1.50, and line v shows Gopher's demand for labor when the price of a shovel is $2.00. MPL (Shovels per worker) WAGE (Dollars per worker)
1. Computing labor productivity and its relationship to the demand for labor Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor Output (Number of workers) (Shovels) 1 90 175. 245 4 300 325 Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. ?) 400 360 Production Function 320 280 240 200 160 120 80 1 3. 4 5. LABOR (Number of workers) Calculate marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. OUTPUT (Shovels) 40
Transcribed Image Text:1. Computing labor productivity and its relationship to the demand for labor Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor Output (Number of workers) (Shovels) 1 90 175. 245 4 300 325 Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. ?) 400 360 Production Function 320 280 240 200 160 120 80 1 3. 4 5. LABOR (Number of workers) Calculate marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from 0 to 1, the MPL of the first worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. OUTPUT (Shovels) 40
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