Q.1.Complete the table. OUTOUT PAIRS K L MTRS 1000 yards I 1 1000 yards II 2...

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Q.1.Complete the table. OUTOUT PAIRS K L MTRS 1000 yards I 1 1000 yards II 2 7:1 1000 yards III 3 5:1 1000 yards IV 4 3:1 1000 yards V 5 1:1 Capital (Machine Hours) Average Product Total Product 3.00 4.00 Q.4.Complete the table and dram the iso cost curve. 4.67 14 pairs I (P.) +K (Px) = C or 4.75 19 L (w) +K(t)=C 4.20 21 A O(2) + I(1) = 10 Diminishing marginal returms first occur beyond machine hour. i. 3 ii. 4 ii. D. E Labor (L) Total Product (TP) 150 320 310 660 800 Refer to the data in the above table, the mumber of workers resulting in the highest level of AP of labor is closest to: i. ii. 4. 3. ii. Refer to the data in the above table, the MP of labor demonstrates increasing retums for the 5. firm if the number of workers is closest to but not more than i. 2. i. 3. ii. 4. Q.1.Complete the table. OUTOUT PAIRS K L MTRS 1000 yards I 1 1000 yards II 2 7:1 1000 yards III 3 5:1 1000 yards IV 4 3:1 1000 yards V 5 1:1 Capital (Machine Hours) Average Product Total Product 3.00 4.00 Q.4.Complete the table and dram the iso cost curve. 4.67 14 pairs I (P.) +K (Px) = C or 4.75 19 L (w) +K(t)=C 4.20 21 A O(2) + I(1) = 10 Diminishing marginal returms first occur beyond machine hour. i. 3 ii. 4 ii. D. E Labor (L) Total Product (TP) 150 320 310 660 800 Refer to the data in the above table, the mumber of workers resulting in the highest level of AP of labor is closest to: i. ii. 4. 3. ii. Refer to the data in the above table, the MP of labor demonstrates increasing retums for the 5. firm if the number of workers is closest to but not more than i. 2. i. 3. ii. 4.

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1 Based on the table presented in the question which represents the different combinations of laborL and capitalK inputs used in the production of a fixed amount of output given as 1000 yards note tha... View the full answer