AutoSave . Off Assignment 2 SU21_AP2 (3) - Saved to this PC Search Pete Stibbs PS X File Home Insert Design Layout References Mailings Review View Help Share Comments Find T X Cut Times New Rom ~ 12 ~ A A" Aa - A AaBbCcI AaBbC AaBbCcDe AaBbCcI AaBbCc] LB Copy Replace Paste BIUxx A DA- Emphasis Heading 1 Heading 4 1 Normal Strong Dictate Sensitivity Format Painter Select Clipboard Font Paragraph Styles Editing Voice Sensitivity Open in Moodle: July 15, 12:00am - July 17, 11:59pm Latest Proctorll appt. time: July 17, 8:30pm Econ 705 Module 2 Assignment 1. Your company utilizes both employees (L) and specialized robots (R) in its production process. The hourly wage of employees is $18, and the hourly cost of operating a robot is $220. The table below describes how the number of each type of input affects output or product (in a marginal way). Number of Marginal product Number of robots Marginal product employees (L) of labor (MPL) (R) of robots (MPR) 39.6 440 36.0 418 32.4 396 28.8 374 25.2 352 21.6 330 18.0 308 a. Given the much higher productivity of robots, why would the company ever consider using employees at all in its production? b. When it started out, the company used five employees and two robots; is this an ideal combination of inputs? Why or why not? c. During its slow season, the company reduces its employees to three; what would be the optimal number of robots to use in this situation? d. During the normal season when the company uses five robots, what would be the optimal number of employees to use? Page 1 of 2 923 words Focus + 100%