Question: According the table given below and answer the following questions Table 1. Brownie output for different numbers of workers. One oven. Workers output( brownies) 30.0

Table 1. Brownie output for different numbers of workers. One oven. Workers output( brownies) 30.0 58.5 85.5 111.0 135.0 157.5 178.5 198.0 216.0 232.5 247.5 261.0 273.0 283.5 292.5 300.0 306.0 310.5 313.5 315.0 10 11 12 13 14 15 16 17 18 19 20 a) (I point) Nick Seaman (Black Sheep Bakery in Amherst) has estimated the number of brownies produced for different numbers of workers (see table 1). Why does output increase with more workers? Why does output increase at a diminishing rate? Would output increase at a diminishing rate if there were additional ovens and workspace? b) (I point) Brownies sell for $2.00 each and each requires $0.75 in ingredients. (The Black Sheep uses quality chocolate!) Graph the demand for labor as a function of the wage using the data in table 1. What happens to the number of workers hired when wages go up? How many workers will be hired and how many brownies made at a wage of $30? How many workers will be hired and how many brownies made if the wage falls to $15?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Output increases with more workers because each additional worker contributes to the production of brownies However output increases at a diminishin... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

The Ramos Company manufactures two products: Treadmills and Elliptical Trainers. The costs and revenues are as follows: Sales price per unit Elliptical Treadmill Trainer $175 85 $300 Variable cost...

Dana, runs an illegal gambling joint and here are her expenses and income. Gross income $300,000 Expenses: Rent $30,000 Maintenance $6000 Bribes to police $20,000 Supplies. $4,000 Food and drink...

Identify two specific examples of Jim Crow Legislation in the South during the early Twentieth Century.

This text was adapted by The Saylor Foundation under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 License without attribution as requested by the work's original creator or licensee. 1...

Please answer the following questions based on the case facts: (NOT MISSING ANYTHING LIKE DATA OR GRAPHS BECAUSE IT IS NOT NEEDED, ONLY USE THE CASE FACTS TO SUMMARIZE) 1) What are major...

Q1-Explain how the EBIT Chart works (inputs determining the outputs-the two lines on the chart Case Leahy Bread Company (LBC) in Cohen Finance Workbook, page 111( a 'caselette') SEE THE IS/BS MODEL &...

Topic 3.1 - Aggregate Demand (AD) 13. Canadians buy more Arnericanmade cars 14. Lower interest rates affect investment L L Part 3 - Making Connections- Read the quote regarding the Great Recession...

View Policies. Current Attempt in Progress ThreePoint Sports Inc. manufactures basketballs for the Women's National Basketball Association (WNBA). For the first 6 months of 2020, the company reported...

In 2009, the average charge for tax preparation by H&R Block, Inc. was $187. Assuming a normal distribution and a standard deviation of = $20, what proportion of H&R Blocks tax preparation fees were...

Find the derivative of the following function. y = 5 x - 5 2 2 x - 1 2 x 1 0 - 2

4. Consider the function f (t) = t", defined for -T

Using the data plotted in Fig. 9.3(in image), find the total applied voltage necessary for a PM tube with a six-stage multiplier using GaP(Cs) dynodes to achieve an electron gain factor of 2.8 x 10 6...

Sulin, Rita, and Lili are the shareholders of Sunny Sdn. Bhd. The authorized capital of the company is RM1 million. Sulin has agreed to contribute RM500,000, and the remaining balance is to be...

Objective The Case will focus on issues related to the cultural aspect of international business. Sustainable business practices include CSR issues, foreign investment, and the benefits of regional...

What distinguishes bioethical principles from theories is not the actions or decisions they prescribe but the ______ Question 3 Select one: a. stakeholders involved in the decision making process b....

Consider the high school SAT scores data from Exercise 36 once more. In Exercise 36 a) Find a 90% confidence interval for the mean SAT-Math score for all students with an SAT-Verbal score of 500. b)...

A study measured the Waist Size of 250 men, finding a mean of 36.33 inches and a standard deviation of 4.02 inches. Here is a histogram of these measurements. a) Describe the histogram of Waist Size....

Find the standard deviation of your winnings throwing darts in Exercise 14. Exercise 14 A carnival game offers a $100 cash prize for anyone who can break a balloon by throwing a dart at it. It costs...

People can be resistant to persuasion because of preexisting biases, commitments, and knowledge. They selectively attend to and evaluate information according to their original attitudes, tuning in...

People with more knowledge are more resistant to persuasion because they can counterargue messages that take a position opposite to what they know and believe.

1. A new boutique coffeehouse just opened in your neighborhood featuring coffee sustainably sourced from small organic farms around the world. Design two ads for the coffeehouse, one using the...