Question: question is stated below. 1. Computing labor productivity and its relationship to the demandfor labor Gopher Excavators produces shovels in a small factory and sells

question is stated below.

question is stated below. 1. Computing labor productivity and its relationship tothe demandfor labor Gopher Excavators produces shovels in a small factory andsells the shovels in a competitive market. The following table shows thecompany's production function: Labor Output (Number of workers) (shovels) 0 0 195 2 185 3 260 4 320 5 355 Use the bluepoints (circle symbol) to plot the production function for Gopher Excavators on

1. Computing labor productivity and its relationship to the demandfor labor Gopher Excavators produces shovels in a small factory and sells the shovels in a competitive market. The following table shows the company's production function: Labor Output (Number of workers) (shovels) 0 0 1 95 2 185 3 260 4 320 5 355 Use the blue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. 400 360 O Production Function 320 O 280 O 240 200 OUTPUT (Shovels) O 160 120 O 80 40 0 3 5 2 4 LABOR (Number of workers)Calculate the marginal product of labor (MPL) of each worker, and then plot the MPL curve on the following graph using the blue points (circle symbol). Note: Remember to plot each point halfway between two integers. For example, when the number of workers increases from O to 1, the MPL of the rst worker should be plotted with a horizontal coordinate of 0.5, the value halfway between 0 and 1. Line segments will automatically connect the points. (2) 100 80 MPL 70 60 50 40 MPL (Shovels per worker) 30 20 10 0 1 2 3 4 5 l LABOR (Number of workers) \f135 120 105 M N 75 60 45 O 8 WAGE (Dollars per worker) 30 15 o 2 3 4 5 LABOR (Number of workers) Given the company's marginal product of labor curve shown on the second graph, line 0 V on this graph shows Gopher's demand for labor when the price of a shovel is $0.50, and line V shows Gopher's demand for labor when the price of a shovel is $1.50. 135 M 120 105 8 75 45 WAGE (Dollars per worker) 30 15 0 1 2 3 4 5 LABOR (Number of workers) Given the company's marginal pro bor curve shown on the second graph, line 0 V on this graph shows Gopher's demand for labor when the price of a shovel is $0.50, and line V shows Gopher's demand for labor when the price of a shovel is $1.50

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