The following are the points on a production function. Units of Labor (L) Total Output 0 100 300 (Q) 0 15000 25000 Consider the graph of the marginal product as a function of labor based on the table above. The marginal product from 0 to 100 units of labor would equal units of labor. and would be drawn as line between 0 units of labor and 100 The marginal product from 100 to 300 units of labor would equal 300 units of labor. and would be drawn as line between 100 units of labor and

Write out an example Cobb-Douglas production function. Derive the signsfor the relationship between labor and output and for marginal product oflabor and labor, holding other inputs fixed. Explain with economic intuition.

A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught: Hours Quantity of Fish (Pounds) 0 0 1 10 2 19 3 25 4 27 5 28 Complete the following table with the marginal product of each hour spent fishing. Hours Quantity of Fish (Pounds) Marginal Product (Pounds) 0 0 1 10 2 19 3 25 4 27 5 28 On the following graph, use the blue points (circle symbol) to graph the fisherman's production function. (spunod) 30 27 24 21 18 Production Function ?

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The amount of fish  caught per week an a trawler is a function of the crew size assigned  to operate the boat. Based on past data, consider the following production function identifying  the relationship between output and labor input. You may assume that capital is fixed at 10 units.Labour Input (No of. Workers) (L)    Total Product TPL (Q). From the table below :-(a) Calculate APL and MPL. (b) Graph APL and MPL. Do they have the expected shape? (c) On your graph, identify the three stages of production Labour input (No of Workers) (L) Total Product TP L (Q) 0 0 1 80 2 170 3 300 4 450 5 540 6 620 7 700 8 770 9 830 10 880 11 920 12 950 13 970 14 980 15 985 16 988 17 988

1. Fill in the column for Marginal Product of Labor and Average Product of Labor and Plot the Charts for ( a) Production Function and (b) Marginal Product of Labor (4) (2) (3) (1) Total Labor Units Product (Employees) (Sandwiches per Hour) Average Marginal Product of Labor (Total Product Product of Labor Labor Units) 1 10 25 3 35 4 40 42 42

The table provides information about the relationships between labor and various product measures The amount of labor that maximizes the marginal product of labor is Total product Marginal Average Labor (workers) (units) product product O. 3. 2. 45 3. 14 4. 19 Select one a. 2 units of labor b. 4 units of labor C3 units of labor. s units of labor.

handwrite it out and include graph please

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