On the following graph, plot Poornima's production function using the green points (triangle symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.Hint: Be sure to plot the first point at (0, 0).QUANTITY OF OUTPUT(Pizzas)2001801601401201006040200012LABOR (Number of workers)Production FunctionSuppose that labor is Poornima's only variable cost and that she has a fixed cost of $30 per day and pays each of her workers $30 per day.Use the orange points (square symbol) to plot Poornima's total cost curve on the following graph using the quantities from the preceding table. 2. Inputs and outputsPoornima's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Poornima's very tiny kitchen has barely enough room for thetwo ovens in which her workers bake the pizzas. Poornima signed a lease obligating her to pay the rent for the two ovens for the next year. Because ofthis, and because Poornima's kitchen cannot fit more than two ovens, Poornima cannot change the number of ovens she uses in her production ofpizzas in the short run.However, Poornima's decision regarding how many workers to use can vary from week to week because her workers tend to be students. EachMonday, Poornima lets them know how many workers she needs for each day of the week. In the short run, these workers are▼ inputs,and the ovens are▼ inputs.Poornima's daily production schedule is presented in the following table.Fill in the blanks to complete the Marginal Product of Labor column for each worker.Output Marginal Product of Labor(Pizzas)(Pizzas)Labor(Number of workers)01234505090120140150On the following graph, plot Poornima's production function using the green points (triangle symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.0n

The marginal product of a business is the extra output made because of extra input put into the…

On the following graph, plot Poornima's production function using the green points (triangle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Hint: Be sure to plot the first point at (0, 0). TPUT (Pizzas) 200 180 160 140 120 Production Function

On the following graph, plot Poornima's production function using the green points (triangle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Hint: Be sure to plot the first point at (0, 0). TPUT (Pizzas) 200 180 160 140 120 Production Function

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A T-shirt screener can screen t-shirts (q) in two different ways. He can either use a fast screening machine (F) or a slow screening machine (S). Screen use is defined in terms of ”hours” running. His production function is f(F, S) = 10F + 6S. (a) The screener wants to be able to produce 120 shirts. List three feasible and efficient production plans (combinations of inputs) for doing this. (b) Graph the screener’s isoquant curve for q = 120. (c) The hourly cost of using the fast machine is $800 and the hourly cost of the slow machine is $200. What is the cost minimizing (optimal) combination of inputs for producing 120 shirts? (d) Suppose the screener must now produce 400 shirts. What is the cost minimizing combination of inputs?
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