Answer Happy

20 1 Comprchensive Exercises : The following table describes a daily production function for PINAS Co., which hires workers to produce hollow blocks Fill out the blank cells Note: Price of Hollow blocks 10, daily wage per worker = P400 No. of Total MP AP 1 The marginal product of each of the 2nd set of 10 workers is: Workers Product per worker per worker А B D E 0 0 0 0 20 5 15 10 12 10 SO 5.0 5.0 2 When fimm changes its labor from 40 to 50 workers, the MP of 10 additional workers is: 20 150 A B C D E 30 350 10 30 15 5 40 500 3. The average product of 50 workers is: 50 600 A c D E 60 650 10 11 12 13 15 70 650 4 Diminishing (decreasing) returns to scale set in sometime between how many workers 80 640 A B C D E 90 620 30 & 40 40 & 50 50 & 60 60& 70 70 & 80 A Profit T2 Workers 10 50 Blocks 1500 18000 Revenue 15000 Labor Cost 4000 Other Cost 5000 80000 Total Cost 9000 6000 Other Factor Unit of Meas Productivity Rev/Other Cost 3.00 P/P P/P T3 Labor Unit of Measure Productivity Workers Rev/Worker 10 1500 P/worker 50 P/worker BIK/Worker 10 150 blk/worker 50 blk/worker Rev/Labor Cost 10 3.75 P/P 50 P/P Total Productivity Rev/TotCost 1.67P/P P/P E NOTC E NOTC 5 Profit at 50 workers is A B c D 80000 800000 9000 90000 6 Lahor Productivity (black/worker) A B c D 360 410 460 310 7 Other Factors Productivity at 50 workers is (P/P) А 3 D 8.25 9.25 10.25 11.25 8 Total Productivity at 50 workers is {P/P) B C D 6 7 8 9 E NOTC E NOTC
A B 9 The law of diminishing returns holds that: the total product of any input must eventually reach a maximum and fall as the employment of that input increases. the average product of any input must eventually reach a minimum and rise as the employment of all inputs increases proportionately. с the marginal product of any input should eventually begin to decline as the employment of that input increases. the marginal product of any input should eventually begin to fall as the employment of all inputs increases proportionately the average product of any input should rise before it falls as the employment of that input increases. E D E Note: NOTC - None of the choices
ATC MC X х Fill the cells. Graph ATC & MC. Identify q* Output Total Cost Var Cost AFC AVC 0 SO X X 2 70 4 85 6 95 8 100 10 110 12 125 14 145 16 170