Question

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

 Labor Output Marginal Product of Labor 0 0 - 1 60 60-0=60 2 100 100-60=40 3 130 130-100=30 4 150 150-130=20 5 160 160-150=10

 Number of workers output Fixed cost (\$) Variable cost (\$) Total cost (\$) = FC+VC 0 0 20 0 20 1 60 20 30 50 2 100 20 60 80 3 130 20 90 110 4 150 20 120 140 5 160 20 150 170

False

Explanation:

The production function reflects the law of decreasing return, because MPL is decreasing.

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