4. Suppose a factory produces rubber gloves. Number of labor days the factory used and the output at each level of labor

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4 Suppose A Factory Produces Rubber Gloves Number Of Labor Days The Factory Used And The Output At Each Level Of Labor 1 (110.43 KiB) Viewed 11 times

4. Suppose a factory produces rubber gloves. Number of labor days the factory used and the output at each level of labor was reported are as follows. Production (kg) Labor (L) person day 0 1 2 3 4 5 6 7 8 9 10 0 4,000 10,000 18,000 24,000 27,000 29,000 30,000 30,000 29,000 27,000 a. Calculate Average product (AP) and Marginal products (MP) for each quantity of output. (5 marks) b. Draw the graphs for Total product, Average product, and Marginal product curves in the same graph. (10 marks) C. What is the quantity of production when the MP is at its maximum? (5 marks) d. How much of labor days are required for getting maximum profit in rubber gloves production? (5 marks)