Question: Complete the following Table using the above information. Workers Output Q Marginal Product MP Total Cost TC Marginal Cost MC Average Total Cost ATC 0

  1. Complete the following Table using the above information.
Workers

Output

Q

Marginal Product

MP

Total Cost

TC

Marginal Cost

MC

Average Total Cost

ATC

0

0

1

10

2

30

3

60

4

80

5

90
  1. How many workers are hired when firm is at its efficient scale?

  1. What is the relationship between marginal cost and the average total cost?

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