Peter runs an apple farm. When he employs 100 workers, he produces 1,000 kg of apple...

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Peter runs an apple farm. When he employs 100 workers, he produces 1,000 kg of apple a week. When he hires 200 workers, his total product triple. His total product doubles when he hires 300 workers. When he hires 400 workers, his total product increases but by only 1,000 kg. The situation occurs again when he hires 500 workers. Peter pays $7,000 a week for renting the farm and equipment. Then, he pays $800 a week to each worker he hires. Explain whether Peter operates his apple farm in the short run situation in terms of the existence of fixed factor and variable factor. Illustrate cach factor with an example found (a) in the given situation. (b) Use the following headings to construct ONE table based on the above data of Peter's farm. Caleulate the total product and marginal product of workers. Do the changes of marginal product of workers in Peter's farm obey the Law of Decreasing Marginal Productivity? Explain briefly based on the situation and data. Total Product Marginal Product (Apples, kg) Workers (Apples, kg) Peter runs an apple farm. When he employs 100 workers, he produces 1,000 kg of apple a week. When he hires 200 workers, his total product triple. His total product doubles when he hires 300 workers. When he hires 400 workers, his total product increases but by only 1,000 kg. The situation occurs again when he hires 500 workers. Peter pays $7,000 a week for renting the farm and equipment. Then, he pays $800 a week to each worker he hires. Explain whether Peter operates his apple farm in the short run situation in terms of the existence of fixed factor and variable factor. Illustrate cach factor with an example found (a) in the given situation. (b) Use the following headings to construct ONE table based on the above data of Peter's farm. Caleulate the total product and marginal product of workers. Do the changes of marginal product of workers in Peter's farm obey the Law of Decreasing Marginal Productivity? Explain briefly based on the situation and data. Total Product Marginal Product (Apples, kg) Workers (Apples, kg)