Question

Attempts: Keep the Highest: 75 2. Inputs and outputs Carloss Performance Pizza is a small restaurant in New York City that s
QUANTITY OF OUTPUT (Pizzas) O Homework (Ch 13) On the following graph, plot Carloss production function using the green poin
TOTAL COST (Dollars) 8: LABOR (Number of workers) Suppose that labor is Carloss only variable cost and that he has a fixed c
TOTA 40 20 0 20 40 60 80 100 120 140 160 180 200 QUANTITY OF OUTPUT (Plzzas) True or False: The shape of the production funct
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:

In the short run, these workers are variable inputs, and the ovens are fixed inputs.

Number of workers

Output(Q)

Marginal product of labor

= Change in Output = Qn – Qn-1

0

0

0

1

60

60

2

100

40

3

130

30

4

150

20

5

160

10

200 100 Production Function 100 40 120 100 00 40 20 LABOR (Number of workers) (eznd) indino JO ONNO

Quantity of output Output(Q)

Fixed Cost

FC

Variable Cost

VC

Total Cost = FC + VC

0

20

0

20

60

20

30

50

100

20

60

80

130

20

90

110

150

20

120

140

160

20

150

170

? 200 180 Total Cost 160 140 120 100 B0 60 40 20 0 20 60 100 180 0 40 80 120 140 160 200 QUANTITY OF OUTPUT (Pizzas) TOTAL CO

False:

The shape of the production function reflects the law of diminishing marginal returns

Add a comment
Know the answer?
Add Answer to:
Attempts: Keep the Highest: 75 2. Inputs and outputs Carlos's Performance Pizza is a small restaurant...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Inputs and outputs Charles's Performance Pizza is a small restaurant in Philadelphia that sells gluten-free pizzas....

    Inputs and outputs Charles's Performance Pizza is a small restaurant in Philadelphia that sells gluten-free pizzas. Charles's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Charles signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Charles's kitchen cannot fit more than three ovens, Charles cannot change the number of ovens he uses in his production of pizzas...

  • 8. Inputs and outputs Clancy's Performance Pizza is a small restaurant in Houston that sells gluten-free...

    8. Inputs and outputs Clancy's Performance Pizza is a small restaurant in Houston that sells gluten-free pizzas. Clancy's very tiny kitchen has barely enough room for the three ovens in which his workers bake the pizzas. Clancy signed a lease obligating him to pay the rent for the three ovens for the next year. Because of this, and because Clancy's kitchen cannot fit more than three ovens, Clancy cannot change the number of ovens he uses in his production of...

  • 2. Inputs and outputs Raphael's Performance Pizza is a small restaurant in San Diego that sells...

    2. Inputs and outputs Raphael's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Raphael's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Raphael signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Raphael's kitchen cannot fit more than two ovens, Raphael cannot change the number of ovens he uses in his production...

  • 2. Inputs and outputs Jake's Performance Pizza is a small restaurant in New York City that...

    2. Inputs and outputs Jake's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Jake's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Jake signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Jake's kitchen cannot fit more than four ovens, Jake cannot change the number of ovens he uses in his...

  • 2. Inputs and outputs Amy's Performance Pizza is a small restaurant in Dallas that sells gluten-free...

    2. Inputs and outputs Amy's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Amy's very tiny kitchen has barely enough room for the three ovens in which her workers bake the pizzas. Amy signed a lease obligating her to pay the rent for the three ovens for the next year. Because of this, and because Amy's kitchen cannot fit more than three ovens, Amy cannot change the number of ovens she uses in her production of...

  • 2. Inputs and outputs Dina's Performance Pizza is a small restaurant in Dallas that sells gluten-free...

    2. Inputs and outputs Dina's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Dina's very tiny kitchen has barely enough room for the two ovens in which her workers bake the pizzas. Dina signed a lease obligating her to pay the rent for the two ovens for the next year. Because of this, and because Dina's kitchen cannot fit more than two ovens, Dina cannot change the number of ovens she uses in her production of...

  • Jake's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Jake's...

    Jake's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Jake's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Jake signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Jake's kitchen cannot fit more than four ovens, Jake cannot change the number of ovens he uses in his production of pizzas in...

  • 2. Inputs and outputs Eric's Performance Pizza is a small restaurant in New York City that...

    2. Inputs and outputs Eric's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Eric's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas, Eric signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this and because Eric's kitchen cannot fit more than two ovens, Eric cannot change the number of ovens he uses in his...

  • 2. Inputs and outputs Ana's Performance Pizza is a small restaurant in Miami that sells gluten-free...

    2. Inputs and outputs Ana's Performance Pizza is a small restaurant in Miami that sells gluten-free pizzas. Ana's very tiny kitchen has barely enough room for the three ovens in which her workers bake the pizzas. Ana signed a lease obligating her to pay the rent for the three ovens for the next year. Because of this, and because Ana's kitchen cannot fit more than three ovens, Ana cannot change the number of ovens she uses in her production of...

  • 2. Inputs and outputs Tim's Performance Pizza is a small restaurant in Chicago that sells gluten-free...

    2. Inputs and outputs Tim's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Tim's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Tim signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Tim's kitchen cannot fit more than two ovens, Tim cannot change the number of ovens he uses in his production of...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT