# can you answer my question . I needed also draw the graph for question 2 d . Heading 2 Title 1. Identify each of the

can you answer my question . I needed also draw the graph for question 2 d . Heading 2
Title
1. Identify each of the following relationships that is an example of derived demand and explain
why :
a) People who live in the suburbs have a demand for automobiles.
b) Businesses producing steel have a demand for iron ore.
c) The symphony orchestra has a demand for violinists,
d) The student association has a demand for beer.
e) The pharmacist has a demand for drugs.
f) The student has a demand for drugs.
2. The first two columns of the following table show changes in the total output of umbrellas
as additional workers are added to a fixed amount of other inputs;
Number
Total Output
Total
of Workers
(per day) MPP
Revenue MRP
\$
0
20
36
50
4 .
62
5-
72-
6-
80
7 .
a) Fill in the column for marginal physical product in the table.
b) Explain why the marginal physical product declines as additional workers are added
c) If the firm can sell as many umbrellas as they wish for a price of \$10, the product
– (is; is not) one of perfect competition. Assuming that the price
market
umbrellas is \$10, fill in the last two columns.
d) In the graphs below, draw the curves for total output, marginal physical product, and
marginal revenue product.

(550 words)

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