The following table shows data for a sample production function. Capital (K) 10 10 10 18 10 10 10 10 10 10 10 Labor (L) 8 1 2 3 4 5 6 7 8 9 18 Total Average Marginal Product (TP) Product (AP) Product (MP) 0 5 15 30 50 75 85 90 92 92 98 Question #2 Graph the three functions (put total product on one graph and marginal and average products on another) I also posted other questions (#1, #3 and #4). I hope you will answer them too.

Q: The purpose of a restrictive monetary policy is to: Select one: a. raise investment demand. b.…

A:

Q: b) At what point (number of workers) does the firm experience diminishing returns? Explain.

A: The diminishing return shows the increase in labor will increase the production but at a decreasing…

Q: According to the chapter 1 of Healey's book, economics and the movement of jobs and opportunity from…

A: The easiness with which workers can shift around between and within economies is known to as labour…

Q: Consider a two-state economy with two agents who have identical preferences given by…

A: The risk premium under the theory of uncertainty is the amount that a risk-averse person will pay to…

Q: Which of the following combinations would have the most expansionary effect on an economy? increase…

A: Aggregate demand is the sum of consumption , investment , Government spending and the net export.…

Q: Q3 The relations describing demand and supply for a hairdresser's service can be showed as the…

A: "As per the guidelines answer is provided to the first three sub-parts of the question."…

Q: (3)  What is the QUANTITY (Q) that maximizes profits at that price? (4)  What are TOTAL PROFITS at…

A:

Q: Money the federal government owes to itself which is borrowed from programs such as Social Security,…

A: In the United States, federal government is the Central authority to operate the economy to make…

Q: 8. According to macroeconomic theory, evidence that high unemployment may be accompanied by low…

A: The definitions of the following concept are given as under: Phillips curve. Neoclassical output…

Q: is anonymity a problem in the digital age?

A: Digital aspects are considered to be the most important elements in today’s world. The digital…

Q: What is meant by production function. Why it is so significant.

A: A mathematical description of the relationship between inputs and outputs during the creation of a…

Q: can you help me with question 4 please.

A: 4. If A plays before B then it will be a sequential game where A plays first and then B plays. We…

Q: Problem 10. A construction company invested $60,000 in a new bulldozer. If the income from temporary…

A: Present value is the value of investment in today's dollar.  Future value is the value of investment…

Q: Imagine a firm’s marginal abatement cost function with existing technologies is: MAC = 12 – E. If…

A: Given that; MAC of the existing technlogy  =12 – E MAC when new technology is used = 6 – 0.5E The…

Q: Define externality and it's importance.

A: A cost or benefit that is not included in the cost of a commodity or service is known as an…

Q: A consumer is faced with the following utility function, U(x1 x2)=(xp1 1+xp2)1/p, where 0<p<1. The…

A: In the theory of optimization, constrained optimization is the mathematical process of optimizing an…

Q: The compound interest on a certain sum of money at 25% for 3 years is Php 47,656.25. Its simple…

A: Given information: Compound interest on a certain sum of money at 25% for years is 47,656.25 i.e.,…

Q: You are the benevolent social planner for your city. several small foods businesses approach you,…

A: The consumer and producer surplus are the advantages or the benefits that the two segments obtain…

Q: Quantity Price 0 1 2 3 4 5 6 7 8 co 9 10 $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 $0 Marginal Cost…

A: At the level of stability, the firms are earning maximum profits. This is because at this point, the…

Q: Q3/ A manufacturing company supplies 24000 units in the first half of the year and the order cost is…

A: The economic order quantity (EOQ) is a measurement of the ideal number of products that a business…

Q: Explain positive and negative externalities with the help of examples?

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: 6. Consider a monopolist with zero cost, C(Q)= 0, facing two consumers. Con- sumer 1's demand is…

A: The quantity-price pairs can be represented by equating the marginal revenue with the marginal…

Q: A 12 percent semiannual coupon bond matures in 9 years. The bond has a face value of $1,000 and a…

A: The yield to maturity (YTM) of a bond is the total return when held to maturity. A long-term bond's…

Q: The purpose of the Social Security retirement program is to a. increase retirement income to 75…

A: Economic benefits are advantageous that can be quantified in terms of money generated, like net…

Q: A small business owner can invest any amount of effort e ≥ 0 to produce output valued at 2e. The…

A: Value of product = 2e Cost of production = e2 Government expropriates a fraction = 2e (1-t ) - e2 In…

Q: An economy operating at close to full capacity is likely to show_______________   1. A trade…

A: The situation where the supply of services and goods are not enough to meet the demand of services…

Q: 1.List and describe the components of Gross Domestic Product on the supply side. Be sure to account…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 3. Do macroeconomic measures apply to the entire perfectly? If not, how else are they valuable…

A: The study of how the economy functions as a whole is called macroeconomics.   Macroeconomics…

Q: Exercise 2.6** Consider the two-player game in figure 2.7. This is match- ing pennies with an…

A: J. Von Neumann and Morgenstern two economists present the game of Matching Pennies in the game…

Q: It is a rainy day in the village and we are selling Umbrellas.  Here is the following data we have…

A: An elastic demand is one in which the change in quantity demanded because of a change in price is…

Q: Burritos is a normal good if the demand a. b. C. d. for burritos rises when income rises. B for…

A: Demand is the requirement of the products or services as raised by the consumer, A higher…

Q: An economy has 8 units of labor and 8 units of capital that are allocated between industry X, with…

A: Production Possibilities Frontier (PPF) displays all the possible output combinations of two…

Q: 4. (1) Solve the following "Entry Deterrence" game by backward induction, and show the solution on…

A: Backward Induction Method: Backward induction strategy is used to compute the equilibrium point of a…

Q: Citizen's insurance is thinking about increasing their retention (deductible) from $1 Billion to $2…

A: In the insurance market, ‘retention’ is the amount of threshold to be satisfied so that an insurer…

Q: Money, as a relatively well over time. unit of account. means of deferred payment. store of value.…

A: Money is a commodity which is generally accepted as medium of exchange for all goods and services.…

Q: the Taylor Rule for real interest rate:

A: Taylor rule is simple monetary policy rule that prescribes how a central bank should adjust its…

Q: When two cats, Euclid and Jamie, play together, their game involves facing each other while several…

A: An equilibrium point for a game where both players employ mixed strategies is a pair of mixed…

Q: A price-taking firm has a production function given by y = 3(x3)¹/3 (max{x₁,8x2})¹/3 where 1, 2 and…

A: A production function is an equation that describes the relationship between the amounts of…

Q: The payoff matrix for a two-player normal form game is given below M N A 1,2 2,2 4,2 B 4,5 5,1 1,5…

A: Given the game:   1/2 A B C M (1, 2) (4, 5) (6, 3) N (2, 2) (5, 1) (2, 4) O (4, 2) (1, 5)…

Q: Which of the following would have the greatest effect on discretionary spending? Unemployment rises…

A: Discretionary spending refers to the money that people have available to spend on non-essential…

Q: The market demand for a type of good has been estimated as: P = 40 -0.25Q, where P is price ($) and…

A: The need for a specific product and who wants to buy it are described by market demand. How willing…

Q: why is the tax rate 6?

A: A pigouvian tax will be optimal when it is set equal to marginal social pollution cost at the…

Q: QUESTION 1 Table 13-16 Quantity Total Cost Fixed Cost 0 1 2 3 4 $24 b.$50 c. $58 d. $74 $108…

A: In economics total cost (TC) is the minimum dollar cost of producing some quantity of output. This…

Q: The manufacturer of smart printers is trying to decide what price to set for its product. The…

A: The firm maximizes its profit when the marginal revenue is equal to the marginal cost (MR=MC).

Q: 1. Below is a graph of the market for gram of legal recreational cannabis in MA. What is the…

A: Answer to sub parts 4,5 and 6 are as follows: Equilibrium is a point where the market demand curve…

Q: 3. What are two characteristics of a common property resource? a. Rival and non-excludable b. Rival…

A: A common property resources are actually the natural resources that are managed and owned by a…

Q: Use the supply and demand analysis of the market for reserves to visually illustrate and explain how…

A: The monetary policy decisions affect the interbank market and the reserves for market equilibrium.…

Q: The graph below shows a firm's isoquant for output q=30. Initially the firm produces at point A,…

A: An isocost line is a line that represents the various combination of factor inputs (here, machines…

Q: Assume the following events are taking place simultaneously: the prices of gasoline rises, commuting…

A: In general equilibrium theory, the prices of goods and services are determined by the intersection…

Q: At a military base in Texas, Corporal Stan Moneymaker has been offered a wonderful savings plan.…

A: The Internal Rate of Return (IRR) is a measure of the return on an investment that takes into…