Question: a) what are the fixed inputs and variable inputs ( name them)? b) draw the total product curve. put the quantity of labor on the
a) what are the fixed inputs and variable inputs ( name them)?
b) draw the total product curve. put the quantity of labor on the horizontal axis and the quantity of ice-cream on the bertical axis.
c) what is the marginal product of each additional worker? fill in the table above. what can you notice and conclude? ( write the comment here)?
Pick's is a small ice cream shop that sells in a university town. They own three ice-cream machines. The other inputs are a refrigerator, a mixer, cups, sprinkle toppings and of course workers. He estimates. He estimates that his daily production function when he varies the number of workers employed is as shown in the accompanying table: Quantity of Labor Quantity of ice-cream Marginal Product (MP) 0 0 110 2 200 270 300 5 320 6 330 1 3
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