Production Function – At what point is marginal physical product negative

Production
Function Short Answer:
Based on the Carol’s Cat Treats, Inc. scenario, graph the production function
for the company and answer the following five questions:

List the coordinates of your graph:
Point 1: ____cartons , ____ workers
Point 2: ____cartons, ____ workers
Point 3: ____cartons, ____ workers
Point 4: ____cartons, ____ workers

1. At what point is marginal physical product negative? What does this mean?
2. What economic law is being displayed here?
3. Based on you graph, in your opinion, what is the optimal number of workers
needed in order to get the maximum output? Why?
4. What capacity constraints are affecting physical production?
5. What can be changed in the short run? What can be changed in the long run?

Students do not need to turn in the graph, only the points for the graph.
Follow the paper standards in developing your responses and submit your answers
in a Word document to your
instructor via e-mail. Be certain to develop thoughtful answers that apply
concepts you learned in the chapter readings and the lecturettes.

Cost Short Answer:
Review the Carol’s Cat Treats, Inc. scenario and the following information.

Scenario:
Carol Katzen opens up a small organic cat treat factory which has two large
rooms, one for the kitchen that houses seven ovens and three industrial mixers,
and one packaging room. She starts out with 20 workers and can produce a total
of 50 cartons of cat treats. All 20 workers have their own work areas and are
using only five ovens and two mixers. Carol is not fully utilizing the land and
capital resources.
Cats really like the cat treats so their owners are buying more treats and
sales are picking up, so Carol decides to hire 10 more workers – she now has 30
workers. Now, the workers are able to make a total of 70 cartons of cat treats
a day. All of the seven ovens and three mixers are being used.
A cat magazine wrote an article on the treats so sales have increased even
more, so Carol hires 10 more workers for a total of 40 workers. Carol’s factory
is already operating at full capacity, with all seven ovens and three mixers
still being used. However, with 40 workers and such a limited number of ovens
and mixers, some workers are now occasionally standing around idle. With all
the confusion, productivity is reduced and now the workers are producing a
total of 60 cartons of cat treats per day. Carol believes that if she manages
the workers more carefully and diverts more of them to the packaging area, they
will become productive again.
Sales are still going through the roof, so Carol decides to hire 10 more
workers for a total of 50 workers. Carol really runs into trouble since two of
the ovens break down. Some workers are fighting over the remaining five ovens,
as trays of cat treats produced by the crew using the mixers really start to
back up. The workers are now producing a total of only 55 cartons a day.

The rent and utilities for the factory is $7,000 per month.
The first 20 worker’s are hired at $10/hr
The next 20 workers (40 total workers) are hired at $10/hr
When Carol hires 10 more workers to make a total of 50 workers, the 10 new
workers make $10/hr and Carol raises the pay rate for the first 20 workers to
$12/hr
After the article is written about the company and the treats, catnip growers
see the article. Catnip is a key ingredients in the treats and so the growers
raise the price of organic catnip from
$50 barrel to $75 a barrel.

Based on this information, answer the following two questions:

1. What are fixed costs and variable costs of this company?
2. Discuss the relationship between marginal physical product, average total
costs and marginal costs using the specific information given about the
company.

Follow the paper standards in developing your responses and submit your answers
in a Word document to your instructor via e-mail. Be certain to develop
thoughtful answers that apply
concepts you learned in the chapter readings and the lecturettes.
Posted
Wed Mar 30, 2016 at 12:38 pm

Criteria

Grading Scale

Criteria

Grading Scale

Problem criteria:
Student effectively answered the question based on module and
text reading, providing sound logic and clearly supporting answers. Show
process used and clearly mark steps/procedures for answer. Partial credit
could be given so show as much of your work & thought processes as
possible.

30
Excellent

25
Good

20
Satisfactory

15
Needs Improvement

Grammar / Mechanics:
Points may be deducted for mechanics issues including
spelling, punctuation, structure and other grammatical issues.

10
Excellent

8
Good

7
Satisfactory

6
Needs Improvement

Total pts: 40

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Essay Fountain
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Education
I love you guys, yal are the best. Thank you so much !!!
Customer 453117, September 10th, 2022
Ethics
I Thank the entire team.
Customer 452919, January 25th, 2022
Advanced Technical Writing
Excellent service as always, Thank you!
Customer 452995, January 20th, 2022
Criminal Justice
Very well and a good paper. Well worded and organized. I would like to know where the references come from
Customer 452519, June 13th, 2020
Sociology
Thank you for answering all of the questions provided. The last 3 discussions, I only received a grade of 14 out of 20 points. Let's see how it goes after the grades are posted next week.
Customer 452919, February 9th, 2023
Other
Best service hands down.
Customer 452995, January 24th, 2022
Social Work and Human Services
Thank you for presenting the paper n-time. The team is getting much better. I have used you guys for a at least 4 semesters and will continue throughout my college career.
Customer 452919, February 21st, 2024
Psychology
Thank you very much! I will be using your service again soon.
Customer 452665, March 18th, 2021
Education
Great Job !!
Customer 453117, September 17th, 2022
Sociology
I enjoyed the writer's work. Please send the writer's ID. The paper was available ahead of the due date and numbered each question to ensure mee that it was covered. AWESOME WORK!
Customer 452919, April 20th, 2022
Sociology
Thank you, the journal wa submitted today and I hope to continue receiving services.
Customer 452919, October 28th, 2021
Sociology
Thank you for following the guidelines of the discussion essay. We are off to a great start.
Customer 452919, March 20th, 2024
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat