Question: Labour Output Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost Marginal Product of Labour 0 0 0

Labour Output Total Variable Cost Total Cost Average Fixed Cost Average Variable Cost Average Total Cost Marginal Cost Marginal Product of Labour
0 0 0
1 10 15 50
2 50 30
3 110 50
4 160 60
5 200 65
6 230 70
7 255 100
  1. FILL IN YOUR DATA IN THE TABLE ONLY.
  2. From your answers identify where diminishing MP sets in.
  3. Find where MC intersects ATC.

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