Question: 10. Workers Output Marginal Fixed Variable Total Marginal Avg. Total = Total Product Costs Costs Cost Cost Cost Product of Labor 0 0 20 2

 10. Workers Output Marginal Fixed Variable Total Marginal Avg. Total =

10. Workers Output Marginal Fixed Variable Total Marginal Avg. Total = Total Product Costs Costs Cost Cost Cost Product of Labor 0 0 20 2 50 3 80 4 100 5 110 6 115 7 118 a. Fill in the column of marginal product of labor. b. A worker costs $100 a day, and the firm has fixed costs of $200. Use this information to fill in the column for fixed cost, variable cost and total cost. c. Fill in the rest of the chart. d. Graph the production function. e. At what point does diminishing returns occurs f. Graph the four cost curves

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