Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra unit of labor when she previouslyused 6 units of labor? Round your answer to two decimal places. Prunella raises peaches. Where L is the units of labor she uses and T is the units of land she uses, her output is f(L, T) = L3T1/3 bushels ofpeaches.On the graph below, plot the input combinations for L = 1,2,4, 8, and 16 that give a total output of two bushels.To refer to the graphing tutorial for this question type, please click here.Production Isoquant161514131211106.This production function exhibitsreturns to scale.11

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Answered: Assuming Prunella has only 2 units of…

Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra unit of labor when she previously used 6 units of labor? Round your answer to two decimal places.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

Assuming Prunella has only 2 units of land, how much extra output does she get from adding an extra unit of labor when she previously
used 6 units of labor? Round your answer to two decimal places.

Prunella raises peaches. Where L is the units of labor she uses and T is the units of land she uses, her output is f(L, T) = L3T1/3 bushels of
peaches.
On the graph below, plot the input combinations for L = 1,2,4, 8, and 16 that give a total output of two bushels.
To refer to the graphing tutorial for this question type, please click here.
Production Isoquant
16
15
14
13
12
11
10
6.
This production function exhibits
returns to scale.
11

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