Question: a. Assume labour is the only variable input. i. Explain with numerical examples the concept at marginal product of labour. 1.5 Mark ii. Explain how

a. Assume labour is the only variable input. i. Explain with numerical examples the concept at marginal product of labour. 1.5 Mark ii. Explain how changes in the marginal product of labour affect marginal returns and marginal cost. 1.5 Marks b. Graph and explain the relationship between marginal cost and average total cost. Using the prot equahon, explain at which point in the marginal cost and average total cost relationship will prot decline. Assume cete ris paribus. 2 Marks

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