Question: Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and

 Include correctly labeled diagrams, if useful or required, in explaining your

Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate, you must show how you arrived at your final answer. Respond to all parts of the qur A firm's short-fun production function shows the relationship between the firm's input and output. Assume the firm uses one variable input, labor, and one fixed input, capital. The following table shows short-run production function for a firm that produces widgets. (o) Caloulate the marginal product of the sirth worker. Show your work. (b) Does the production function exhibit diminishing returns to labor? Explain. (e) When marginal product is talling, what happens to marginal cost? (f) On a single conectly labeled groph, draw the firmis short rin averege totat cont curve (ATC), average variable cout curve (A VC). and marginar cont curve (MC)

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