Complete the two tables below. You can copy and paste these table into a Word (or other) document and input the values you have calculated.

1. Define marginal product.
2. In the table below, calculate the Marginal Product of each worker.

# Workers	Total Output	MP
0	0	--
1	10
2	25
3	50
4	70

3. Define diminishing marginal returns.

4. At what quantity does diminishing marginal returns set in?

5. Define marginal cost.

6. Complete the following table. Note: you cannot calculate an average cost or marginal cost when the quantity is 0. The dashes for those entries indicate that they are not applicable.

Output	TFC	TVC	TC	AFC	AVC	ATC	MC
0	50	0		--	--	--	--
1		10
2		15
3		25