Uncertain how to solve these sets of problems Note: Plot your points in the order in which you would like them connected. Line segments willconnect the points automatically.Hint: Be sure to plot the first point at (0, 0).QUANTITY OF OUTPUT (Pizzas)200 T180160140 +1201006060TOTAL COST (Dollars)40200200180160Suppose that labor is Charles's only variable cost and that he has a fixed cost of $20 per day andpays each of his workers $30 per day.140Use the orange points (square symbol) to plot Charles's total cost curve on the following graphusing the quantities from the preceding table.12010060604002023LABOR HIRED (Number of workers)00 20 4060QUANTITY OF OUTPUT (Pizzas)4ATrueFalseTPP60 100 120 140 100 180 200?0Total Cost(?)True or False: The shape of the total physical product curve reflects the law of increasing marginalreturns. Charles's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas.Charles's very tiny kitchen has barely enough room for the three ovens in which his workers bakethe pizzas. Charles signed a lease obligating him to pay the rent for the three ovens for the nextyear. Because of this, and because Charles's kitchen cannot fit more than three ovens, Charlescannot change the number of ovens he uses in his production of pizzas in the short run.However, Charles's decision regarding how many workers to use can vary from week to weekbecause his workers tend to be students. Each Monday, Charles lets them know how many workershe needs for each day of the week. In the short run, these workers arethe ovens areinputs, andinputs.Charles's daily production schedule is presented in the following table.Fill in the blanks to complete the Marginal Physical Product of Labor column for each worker.Output Marginal Physical Product of Labor(Pizzas)Number of Workers (Pizzas)200ON M & S180010012345On the following graph, plot Charles's total physical product curve (TPP) using the green points(triangle symbol).060100130Note: Plot your points in the order in which you would like them connected. Line segments willconnect the points automatically.Hint: Be sure to plot the first point at (0, 0).150160

Given information: Charles's Performance Pizza is a small restaurant in San Diego that sells…

However, Charles's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Charles lets them know how many workers he needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Charles's daily production schedule is presented in the following table.

However, Charles's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Charles lets them know how many workers he needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Charles's daily production schedule is presented in the following table.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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