Question: QUESTION 5 The accompanying graph shows five points on a firm's expansion path when the price of labor is $50 per unit and the price

QUESTION 5 The accompanying graph shows five points on a firm's expansion path when the price of labor is $50 per unit and the price of capital is $250 per unit. Graph 1 160 120 . | | g l * | \"I = E 80 I O 2.500 {U 0 l | | 75 .- I so - I o = 2.000 I l I l I = 40 : o 1.500 I I i : : Q = 1.000 I I i : l 1 . o = sop 0 200 400 I 600 ' 800 1.000 1,200 1,375 450 750 Labor (L) From this graph, fill in the blanks in the following table: (20 marks) Q L K LTC LAC LMC (TOTAL : 50 MARKS)
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