1. What is the fixed input use in this production? 2. What is the variable input use in this production?. 3. When MP is 0, TP is at, point of production at_ level Q of Labor. 4. State the Law of Diminishing Return. Based on the computed MPL, at what input level does the law starts to operate? 5. The Law of Diminishing Returns occurs at worker.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
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1. What is the fixed input use in this production?
2. What is the variable input use in this production?.
3. When MP is 0, TP is at
point of production at
level Q of Labor.
4. State the Law of Diminishing Return. Based on the computed MPL, at what
input level does the law starts to operate?
5. The Law of Diminishing Returns occurs at
worker.
Transcribed Image Text:1. What is the fixed input use in this production? 2. What is the variable input use in this production?. 3. When MP is 0, TP is at point of production at level Q of Labor. 4. State the Law of Diminishing Return. Based on the computed MPL, at what input level does the law starts to operate? 5. The Law of Diminishing Returns occurs at worker.
Labor Input (L)
TPL
APL
MPL
1
7
2
18
9
11
3
30
10
12
4
44
11
14
62
12.4
18
6
78
13
16
7
88
12.57
10
8
94
11.75
10.44
94
10
92
9.2
-2
Transcribed Image Text:Labor Input (L) TPL APL MPL 1 7 2 18 9 11 3 30 10 12 4 44 11 14 62 12.4 18 6 78 13 16 7 88 12.57 10 8 94 11.75 10.44 94 10 92 9.2 -2
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