Question: (a) Create a hypothetical data of 12 observations, generate and plot table and figure, using Microsoft Excel as below. Table 1 No of Labour Total

(a) Create a hypothetical data of 12 observations, generate and plot table and figure, using Microsoft Excel as below.

table and figure, using Microsoft Excel as below. Table 1 No of

Table 1 No of Labour Total Average Marginal (L) Product product product (TP) (AP) MCTable 2 Price Quantity Fixed Variable Marginal Average Average Average Profit per of Cost Cost Cost fixed variable total unit output cost cost cost (P) Q) (FC) (VC) (MC) (AFC) (AVC) (ATC)

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