Question 11 The data in the table is for a firm in which labor is the only variable cost and each unit of labor costs the same regardless of how many units are bought Unit of Labor TP MP AP TVC MC AVC 0 0 0 1 8 8 8 100 2 20 3 45 25 4 30 18 8 5 20 6 120 20 7 10 18 6 8 135 What is the value of TVC if 7 units of labor are used What is the value of MC if 5 units of labor are used

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Question: Question 11 The data in the table is for a firm in which labor is the only variable cost and each unit of labor costs

Question 11

The data in the table is for a firm in which labor is the only variable cost and each unit of labor costs the same regardless of how many units are bought.

Unit of Labor	TP	MP	AP	TVC	MC	AVC
0	0	/	/	0	/	/
1	8	8	8	100
2	20
3	45	25
4		30	18.8
5			20
6	120	20
7		10	18.6
8	135

What is the value of TVC if 7 units of labor are used?

What is the value of MC if 5 units of labor are used?

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