On the following graph, plot Poornima's production function using the green points (triangle symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.Hint: Be sure to plot the first point at (0, 0).QUANTITY OF OUTPUT(Pizzas)2001801601401201006040200012LABOR (Number of workers)Production FunctionSuppose that labor is Poornima's only variable cost and that she has a fixed cost of $30 per day and pays each of her workers $30 per day.Use the orange points (square symbol) to plot Poornima's total cost curve on the following graph using the quantities from the preceding table. 2. Inputs and outputsPoornima's Performance Pizza is a small restaurant in Detroit that sells gluten-free pizzas. Poornima's very tiny kitchen has barely enough room for thetwo ovens in which her workers bake the pizzas. Poornima signed a lease obligating her to pay the rent for the two ovens for the next year. Because ofthis, and because Poornima's kitchen cannot fit more than two ovens, Poornima cannot change the number of ovens she uses in her production ofpizzas in the short run.However, Poornima's decision regarding how many workers to use can vary from week to week because her workers tend to be students. EachMonday, Poornima lets them know how many workers she needs for each day of the week. In the short run, these workers are▼ inputs,and the ovens are▼ inputs.Poornima's daily production schedule is presented in the following table.Fill in the blanks to complete the Marginal Product of Labor column for each worker.Output Marginal Product of Labor(Pizzas)(Pizzas)Labor(Number of workers)01234505090120140150On the following graph, plot Poornima's production function using the green points (triangle symbol).Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.0n

The marginal product of a business is the extra output made because of extra input put into the…

On the following graph, plot Poornima's production function using the green points (triangle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Hint: Be sure to plot the first point at (0, 0). TPUT (Pizzas) 200 180 160 140 120 Production Function

On the following graph, plot Poornima's production function using the green points (triangle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Hint: Be sure to plot the first point at (0, 0). TPUT (Pizzas) 200 180 160 140 120 Production Function

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 38CTQ: Do you think that the taxicab industry in large cities would be subject to significant economies of...

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2. Inputs and outputs Edison's Performance Pizza is a small restaurant in Philadelphia that sells gluten-free pizzas. Edison's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Edison signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Edison's kitchen cannot fit more than three ovens, Edison cannot change the number of ovens he uses in his production of pizzas in the short run. However, Edison's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Edison lets them know how many workers he needs for each day of the week. In the short run, these workers are inputs, and the ovens are inputs. Edison's daily production schedule is presented in the following table. Fill in the blanks to complete the Marginal Product of Labor column for each worker. Labor Output Marginal Product…
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