oooo TMobile 4G 0906 84 coursesapliacom On the following gra

·oooo T-Mobile 4G 09:06 84% courses.aplia.com On the following graph, plot Caroline\'s production function using the green points (triangle symbol) Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically Hint: Be sure to plot the first point at (0, 0) Production Function 90 60 30 LABOR HIRED (Number of workers) Suppose that labor is Caroline\'s only variable cost and that she has a fixed cost of $50 per day and pays each of her workers $40 per day Use the orange points (square symbol) to plot Caroline\'s total cost curve on the following graph using the quantities from the preceding table 300 270 240 210 180 150 Total Cost 0 30 60 0 120 150 180 210 240 270 300 QUANTITY OF OUTPUT (Pizz88) The law of diminishing marginal returns is demonstrated by which of the following? O Total output increases at a decreasing rate as you increase the quantity of labor. O Total output increases only when you increase both labor and ovens O Total output declines as you increase the quantity of labor

Solution

Production Function Graph

Total Cost Graph

The law of diminishing returns is by C. Output decreases as you increase quantity of labor.

Fill in the blanks

Workers are variable inputs while ovens are fixed input.

Number of workers	Output (Pizzas)	Marginal physical product of labour
0	0	100
1	100	80
2	180	160
3	240	120
4	280	180
5	300	-180