MICRO ASSIGNMENT 2

MICRO ASSIGNMENT 2 - Karina Santana March 20, 2010...

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Karina Santana March 20, 2010 Assignment 2 In this assignment I learned that the total product curve and the marginal product of labor are equal. They are equal thanks to the slope. While drawing up the chart we realize that the slope of the total product curve is the change in the quantity output (rise) divided by the change in the quantity of labor (the run). For example, the marginal product of the first workers is 110 also means that the slope of the total product curve in going from 0 to 1 worker is 110. Similarly, it is the same with the entire marginal product for every so worker. The fixed inputs in this problem are the three frozen yogurt machines and the refrigerators. The variable inputs are the workers, frozen yogurt mix, cups and sprinkle topping. Fixed inputs are the things that a company needs that are always constant. Variable inputs are the goods needed to produce a product and will always have to be replaced because it runs out. In order to see how the total product curve for this example looks like, I drew a
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MICRO ASSIGNMENT 2 - Karina Santana March 20, 2010...

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