MANCOSA HONORIS UNITED UNIVERSITIES SHORT QUESTION (ESSAY / CASE STUDY / EXERCISE) MODULE BASIC ECONOMICS AND FINANCE YEAR ONE (1) INTAKE JANUARY 2020 TOTAL MARKS 20 Answer ALL questions below. [20 marks] The following information was taken out from a production schedule for a manufacturer of shoes. It shows how the total output changed as different amounts of labour were used in a production plant that remained unchanged throughout. 1.1 Fill in the missing information in the table, (a) ci). (10 marks) Number of workers Output (a) 0 0 (b) 1 2 3 4 5 (d) 18 21 22 (h) 19 (c) 7 (e) (f) (g) 0 (i) 6) 5 6 7 8 13 1.2 With the aid of a well labelled diagram, use the information filled in question 1.1 to identify and explain the economic phenomenon presented by the output schedule. (10 marks)