oh dewing aparatie en ang de grem perde VISI LABOR True then corded t septents we need the posay False Pro meins ********* ( ) QUANTITY OF OUTP MON workers these day of True or False: The shape of the production function reflects the law of increasing marginal returns. quattist from the prende Vi
oh dewing aparatie en ang de grem perde VISI LABOR True then corded t septents we need the posay False Pro meins ********* ( ) QUANTITY OF OUTP MON workers these day of True or False: The shape of the production function reflects the law of increasing marginal returns. quattist from the prende Vi
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:2. Inputs and outputs
Malika's Pizzas is a takeout-only pizza parfor servicing the college campus of Santa Barbara that specializes in vegan pizzas. Malika's small shop has
barely enough room for customers to stand and wait, let alone the five pizza ovens necessary to keep up with the hungry student customers. Malika
signed a lease renting both the five ovens and the storefront for the next year. Due to the terms of the lease and the building's size constraint, Malika
is unable to change the store's number of pizza ovens in the short run.
However, Malika does face a decision regarding the number of employees to schedule on a weekly basis. Every Sunday, Malika contacts the staff to
communicate the amount of workers needed on each day of the upcoming week. In the short run, the store employees are
inputs, and
pizza ovens are
inputs.
The following table presents Malika's daily production schedule.
Fill in the blanks to complete the Marginal Product of Labor column for each worker.
Output Marginal Product of Labor
(Pizzas)
Labor
(Number of workers) (Pizzas)
0
1
2
3
4
5
0
70
120
160
190
200
Transcribed Image Text:onde ngaphat aspection funcionang the grem por
wa: Mot
XX
VESI
QUANTITY OF OUTPUT
LABOR
100
True
then coaded Le spents creed depa
O False
Prod
moins
robe cest labox /eure that e
pe orange points faquare rybol) to platf
RIEBER***
QUANTITY OF OUTP
MOR
all works the day of 50
True or False: The shape of the production function reflects the law of increasing marginal returns.
etist from the precading
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