Labor Output (Number of workers) (Units) Marginal Product (Units) 0 0 1 300 2 500 3 600 4 650 Refer to Table 2. At which number of workers does diminishing marginal product begin? 1 OOOO 23 3 4
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- How do we calculate marginal product?Number of Workers Total Output Marginal Product 0 012345 Refer to the table. What is the total output when 4 workers are hired? 160 units 200 units 10 units 50 60 50 40 30 40 unitsWeekly production for a potter varles with the number of workers employed, as shown in the table below. Number of workers 1 2 3 4 5 Total product (units of pots) Marginal product Average product 0 90 360 486 540 435 90 90 a. Enter the values of marginal product, when adding each worker, in the table above. Include a minus sign (-) when entering any negative values.
- Fill in the tableTotal, Average, and Marginal Product of a Soap ManufacturerNumber of Workers Total Output perdayAverage Product Marginal Product1 50 bars2 1253 2204 3205 4106 4907 5608 6109 64010 630A. Using the data in the table, graph and explain the following:a. Total Outputb. Average Productc. Marginal ProductProblem 1 Cefel Furniture is a small furniture shop that focuses on making kitchen chairs. The weekly wwww ww dollar value of its output, including finished goods and work in progress, is 14,280. The value of inputs,such as labor,materials, and capital, is approximately 16,528. Compute the total productivity measure for Cefel Furniture. wwww Problem 2 Cefel has just purchased a new sanding machine that processes 17 chairs in 8 hours. What is the www productivity of the sanding machine? Problem 3 Cefel has hired two new workers to paint chairs. They have painted 10 chairs in 4 hours. What is www their labor productivity? Note that all the problems are connected.Marginal Product Average Product of Labor Units of Total Labor Product of Labor 4 16 5 6. 120 30
- The table below shows the number of workers and total output. Calculate marginal and average product for each worker. Number of Workers Total Production Marginal Product Average Product 1 100 2 220 3 300 4 340 The marginal product of the third worker is Blank 1 and the average product when three workers are employed is The marginal product of the fourth worker is Blank 3 and the average product when fourth workers are employed isDaily 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 per day) (2) (3) (4) Total Product Marginal Product| Average Product (pots per day) (pots per day) (pots per day) 1 80 2 220 405 4 440 425 b. In which employment range is marginal product rising? falling and positive? negative? Marginal product is rising when the first, second, and third workers are hired and total product in this range is rising fairly quickly Marginal product is falling and positive when the fourth worker is hired v, and total product in this range is rising at a slower pace v Marginal product is negative when the fifth worker is hired , and total product in this range is falling C. Draw the total product curve on one set of axes and the average product and marginal product curves on he other set of axes below. In the left graph, use the…Table 13-2 Number of Workers Total Output Marginal Product 0 0 -- 1 200 2 450 3 600 4 650 Refer to Table 13-2. What is the marginal product of the fourth worker? Group of answer choices 250 units 200 units 150 units 50 units
- Answer the question on the basis of the following information. Number of Workers 0 1 2 3 4 5 6 Multiple Choice Total Product O 0 10 36 52 When five workers are employed, 64 total product is 60. total product is 58. averago product is 10 Marginal Product 10 12 8A company produces children's toys. The manager noticed the connection between the number of employed workers and the quantity of toys produced per month, which are presented in the table of following: a) In what period is this firm operating? Why? b) What is the average product when 5 workers are employed? c) What is the marginal product when 7 workers are employed? What does this value mean? d) Does the law of declining marginal income apply? If yes to which worker? e) In this production function do we have total declining revenues? If so, which worker happens? f) Graph the curves of total product (TP), marginal product (MP) and product average (AP).workers ouput marginal product total cost average total cost marginal cost 0 0 0 200 0 $0 1 20 20 300 $15 $5 2 50 30 400 $8 $3.33 3 90 40 500 $5.56 $2.50 4 120 30 600 $5 $3.33 5 140 20 700 $5 $5 6 150 10 800 $5.33 $10 7 155 5 900 $5.8 $20 can you explain diminishing marginal product based on these numbers?
