Describe the short-run effect of a hypothetical inflow of low-skilled foreign workers on the labor market of Miami.
September 3, 2020
A furniture manufacturer has warehouses in cities represented by nodes 1,2, and 3.
September 3, 2020

Draw the Total Product graph and below it draw the Marginal Product of Labor (MPL) graph as more workers are added to the manufacturing process. Make sure to label the axes and every line you draw.

On one set of coordinates, draw the TFC, TVC, and TC curves. Please label the axes, an important vertical intercept, and every line.

On one set of coordinates, draw the MC, AFC, AVC, and ATC curves. Please label the axes and every line.

When MPL is negative, Total product __________________________

When MPL decreases but it is still positive, Total product ____________________ at a __________________ rate.

Total product is maximized when MPL is _____________________

When MC increases, AVC decreases. – True or False

The TC and TVC curves are parallel. – True or Fase

KM
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