Question

The difference between the fixed and the variable factors are the fixed factors remain fixed during the production process and the variable factor varies with the output. In this case the workers are variable inputs and the ovens are fixed input.

The marginal product of the labor is the addition made to the total product when an additional unit of the labour is employed. And this can be calculated by dividing the change in total output divided by the change in the labour employed.

MP

OR by using the formula

The production function and the marginal product is given above, the production function shows the relationship between the quantity produced and the number of labour employed.

The total cost is the sum of both the fixed as well as the variable cost, we should add both the variable and the fixed cost to get the total cost.

The shape of the production function shows the law of diminishing marginal returns and not increasing marginal returns.

Ans: FALSE.

#### Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
• ### 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...

• ### 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...

• ### Sam's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Sam's very...

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

• ### 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...

• ### Hubert's Performance Pizza is a small restaurant in San Diego that sells gluten-free pizzas. Hubert's very...

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

• ### Attempts: Keep the Highest: 75 2. Inputs and outputs Carlos's Performance Pizza is a small restaurant...

Attempts: Keep the Highest: 75 2. Inputs and outputs Carlos's Performance Pizza is a small restaurant in New York City that sells gluten-free pizzas. Carlos's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Carlos signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Carlos's kitchen cannot fit more than four ovens, Carlos cannot change the number of...

• ### 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...

• ### Homework (Ch 13) Bob's Performance Pizza is a small restaurant in New York City that sells...

Homework (Ch 13) Bob's Performance Pizza is a small restaurant in New York City that sells gluten free pizzas. Bob's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Bob signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Bob's kitchen cannot fit more than four ovens, Bob cannot change the number of ovens he uses in his...

• ### 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...

• ### 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...