Micro 3.1-The Production Function VIDEO CHOICE

Last updated over 1 year ago

8 questions

BIG HINT! Take the following functions and change the name....

Total Utility-->Total Productivity
Average Utility-->Average Productivity
Marginal Utility-->Marginal Productivity

SAME GRAPH!!!!

For Utility (Goods consumed led to utility)
For Productivity (Quantity of Resources leads to Quantity of Output)

Watch at least one of the following videos. Complete the two questions needed for the video. Then complete the two questions AFTER the videos.

Trim End | 05:54

Questions 1 & 2 | 04:16

00:00/00:00

Questions 1 & 2

04:16

Trim End | 05:07

Questions 3 & 4 | 04:52

00:00/00:00

Questions 3 & 4

04:52

Trim End | 12:47

Questions 5 & 6 | 04:28

00:00/00:00

Questions 5 & 6

04:28

Required

Do you think these are short-run (at least one fixed resource) or long-run (all variable resources) production functions? Explain.

Required

Micro 3.1-The Production Function VIDEO CHOICE

Micro 3.1-The Production Function VIDEO CHOICE

Do you think these are short-run (at least one fixed resource) or long-run (all variable resources) production functions? Explain.

Sort the following into the stages of the production function. This is a tough one since some of the labels will be used more than once! I recommend drawing out ALL 3 graphs on a white board or paper, or reference your prior drawings to get a good handle on this!