a) Complete Table 1 (below) by calculating:

(Since you can't fill in the table, please write the numbers in the answer box in a row, separated by commas. Write MC, TR, or MR on each row. If the rows are neatly labeled, there is no need to include the letters).

i. Marginal Cost (Column III)(2 marks)(Note: Q is changing by one unit)

ii. Total Revenue (Column V)(2 marks)

iii. Marginal Revenue (Column VI)(2 marks)

Table 1

III IV V VI Total Cost Marginal Cost Average Total Marginal Quantity (TC) (MC) Revenue Revenue Revenue (Price) (TR) (MR) (Q) 1 2 100 [G] 1.5 [A] [N] 2 38 90 [H] 2.5 [B] [O] 3 64 80 3.5 [C] [P] 4 84 70 [ J] 4.5 [D] [Q] 5 96 60 [K] 5.5 [E] [R] 6 104 50 [L] 6.5 [F] [S] 7 120 40 [M]