Refer to the production table for jeans to answer several questions. Capital Input (Sewing Machines per Day) 0 1 2 3 4 Capital Input (Sewing Machines per Day) 3 Marginal Physical Product 0 units 0 0 0 0 0 (Click to select) V 0 1 0 0 15 222 20 21 21 /1 Labor Input (Workere per Day) 2 3 4 5 21 Jeans Output (Pairs per Day) 0 0 50 78 92 94 0 34 3862 46 50 52 0 44 64 73 78 50 48 72 83 86 Suppose a firm has three sewing machines and can vary only the amount of labor input. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Compute the marginal physical product. Labor Input (Workers per Day) 2 4 5 3 Jeans Output (Paire per Day) 83 92 73 c. Is total output still increasing when MPP begins to diminish? 6 0 d. What is the value of MPP when output no longer increases? 51 81 99 101 6 7 99 0 51 82 103 104 7 8 103 0 47 80 103 104 b. At what amount of labor input does the law of diminishing returns first become apparent in the table of marginal physical product? 8 103
Refer to the production table for jeans to answer several questions. Capital Input (Sewing Machines per Day) 0 1 2 3 4 Capital Input (Sewing Machines per Day) 3 Marginal Physical Product 0 units 0 0 0 0 0 (Click to select) V 0 1 0 0 15 222 20 21 21 /1 Labor Input (Workere per Day) 2 3 4 5 21 Jeans Output (Pairs per Day) 0 0 50 78 92 94 0 34 3862 46 50 52 0 44 64 73 78 50 48 72 83 86 Suppose a firm has three sewing machines and can vary only the amount of labor input. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. Compute the marginal physical product. Labor Input (Workers per Day) 2 4 5 3 Jeans Output (Paire per Day) 83 92 73 c. Is total output still increasing when MPP begins to diminish? 6 0 d. What is the value of MPP when output no longer increases? 51 81 99 101 6 7 99 0 51 82 103 104 7 8 103 0 47 80 103 104 b. At what amount of labor input does the law of diminishing returns first become apparent in the table of marginal physical product? 8 103
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterA: The Use Of Mathematics In Principles Of Economics
Section: Chapter Questions
Problem 1RQ: Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type...
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![Refer to the production table for jeans to answer several questions.
Labor Input (Workere per Day)
3
2
4
5
Capital Input
(Sewing Machines
per Day)
0
1
2
3
4
Capital Input
(Sewing Machines
per Day)
3
Marginal Physical
Product
0
units
0
0
0
0
0
(Click to select) V
0
1
0
0
15
20
21
21
/1
Jeans Output (Patre per Day)
0
0
0
44
50
78
92
21
0
34
46
50
52
73
78
Suppose a firm has three sewing machines and can vary only the amount of labor input.
Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-)
in front of those numbers.
a. Compute the marginal physical product.
50
48
72
83
86
Labor Input (Workers per Day)
2
5
3
4
Jeans Output (Paire per Day)
83
92
73
94
c. Is total output still increasing when MPP begins to diminish?
6
d. What is the value of MPP when output no longer increases?
0
51
81
99
101
6
7
99
0
51
82
103
104
7
8
103
0
47
80
103
104
b. At what amount of labor input does the law of diminishing returns first become apparent in the table of marginal physical product?
8
103](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadc8f130-eed5-4f68-b781-e62a9d6e749f%2F5a6cec3d-b7cd-4d65-98c5-ac05729b1c6c%2Flbkw7hs_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Refer to the production table for jeans to answer several questions.
Labor Input (Workere per Day)
3
2
4
5
Capital Input
(Sewing Machines
per Day)
0
1
2
3
4
Capital Input
(Sewing Machines
per Day)
3
Marginal Physical
Product
0
units
0
0
0
0
0
(Click to select) V
0
1
0
0
15
20
21
21
/1
Jeans Output (Patre per Day)
0
0
0
44
50
78
92
21
0
34
46
50
52
73
78
Suppose a firm has three sewing machines and can vary only the amount of labor input.
Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign (-)
in front of those numbers.
a. Compute the marginal physical product.
50
48
72
83
86
Labor Input (Workers per Day)
2
5
3
4
Jeans Output (Paire per Day)
83
92
73
94
c. Is total output still increasing when MPP begins to diminish?
6
d. What is the value of MPP when output no longer increases?
0
51
81
99
101
6
7
99
0
51
82
103
104
7
8
103
0
47
80
103
104
b. At what amount of labor input does the law of diminishing returns first become apparent in the table of marginal physical product?
8
103
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