Given the company\'s marginal product of labor curve shown on the second graph,

Question

Given the company's marginal product of labor curve shown on the second graph, line selector 1   

M

N

O

on this graph shows Gopher's demand for labor when the price of a shovel is $1.00, and line selector 2   

M

N

O

shows Gopher's demand for labor when the price of a shovel is $1.50.

MindTap-Cengage Learning#!&parentid;=224853848-Microsoft Edge ng cengage.com/static/nb/ui/index.html?nbid-61 3134&nbNodeld-224853847;&deploymentid;=56 7366729497 1628362 3863 78&elSBN-9781; 337096577#!&parentld-2248541; 55 MINDTAP Tyler Fisher Ch 18 GRADED Homework Due Today at 1 1:59 PM EST Back to Assignment Keep the Highest: 2.513 Attempts: 2.5 1. Computing labor productivity and its relationship to the demand for 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) 80 150 210 250 270 Use the biue points (circle symbol) to plot the production function for Gopher Excavators on the following graph. O Type here to search 12:45 AM ^41) ENG 12/13/2017

Explanation / Answer

1) Line O

2) line N

Labor Capital MPL 0 0 0 1 (0.5 for MPL) 90 90 2 (1.5 for MPL) 175 85 3 (2.5 for MPL) 245 70 4 (3.5 for MPL) 300 55 5 (3.5 for MPL) 325 25

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