Review QuestionsQUESTION 19The following table shows the DVDS production. Study the table and answer the questions?Labor (L)TotalMarginalProductAverageproduct oflabor (TPL)Product of(MPL)labor (APL)12030364405426.421. Based on the above table, how much is the marginal product (MPL) of the 3rdlabor?2. Based on the above table, which labor has the largest marginal product?3. Based on the above table, if the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*)?

Answer : Labour (L) Total product of labour (TPL) Marginal product of labour (MPL) Average…

QUESTION 19 Che following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal Average product of labor (TPL) Product Product of (MPL) labor (APL) 1 20 30 3. 36 4 40 42 42 6 1. Based on the above table, how much is the marginal product (MPL) of the 3rd labor? 2. Based on the above table, which labor has the largest marginal product? 3. Based on the above table, if the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*)?

QUESTION 19 Che following table shows the DVDS production. Study the table and answer the questions? Labor (L) Total Marginal Average product of labor (TPL) Product Product of (MPL) labor (APL) 1 20 30 3. 36 4 40 42 42 6 1. Based on the above table, how much is the marginal product (MPL) of the 3rd labor? 2. Based on the above table, which labor has the largest marginal product? 3. Based on the above table, if the price of DVD is $20, and the labor's wage is $80, how many labors will be hired (L*)?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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