The first two columns in the following table give a firms short-run production function when the only variable input is labor, and capital (the fixed input) is held constant at 5 units. The price of capital is $2000 per unit, and the price of labor is $500 per unit.

Unit of	Units of	Average	Marginal	Cost	Average Cost	Marginal
labor	Output	Product	Product	Fixed	Variable	Tortal	Fixed	Variable	Total	Cost
0	0	xx	xx	10,000	0	10,000	xx	xx	xx	xx
20	4,000	200	200	10,000	10,000	20,000	2.5	2.50	5.00	2.50
40	10,000	250	300	10,000	20,000	30,000	1.00	2.00	3.00	1.67
60	15,000	250	250	10,000	30,000	40,000	0.67	2.00	2.67	2.00
80	19,400	242.5	220	10,000	40,000	50,000	0.52	2.06	2.58	2.27
100	23,000	230	180	10,000	50,000	60,000	0.43	2.17	2.61	2.78

b. What is the relation between average variable cost and marginal cost? Between average total cost and marginal cost?

c. What is the relation between average product and average variable cost? Between marginal product and marginal cost?