I would like help on coming up with the values for the table. I\'ve already begu

Question

I would like help on coming up with the values for the table. I've already begun trying to solve. Thanks in advance for the help!

Economics 200 Bonus 1) Complete the table below: (7 points) Labor Capital TPMPAPTFC TVC TC AFCAVCATC MO 50 50 4 30 200 Labor is paid a wage of S50/day All output is per day Where: TP total product; output; or quantit)y MP - marginal product AP - average product TFC- total fixed cost TVC- total variable cost TC- total cost AFC-Average fixed cost AVC-average variable cost ATC- Average total cost MC- marginal cost

Explanation / Answer

MC Calculation example:

1st row: MC = (150 - 100) / (40 - 0) = 1.25

2nd row: MC = (200 -150) / (100 - 40) = 0.83    and so on

Labor(L) Capital TP(Q) MP AP = TP/L TFC TVC =$50*L TC = TFC+TVC AFC = TFC/Q AVC=TVC/Q ATC=TC/Q MC 0 8 0 100 0 100 1 8 40 40 40 100 50 150 2.50 1.25 3.75 1.25 2 8 100 60 50 100 100 200 1.00 1.00 2.00 0.83 3 8 150 50 50 100 150 250 0.67 1.00 1.67 1.00 4 8 180 30 45 100 200 300 0.56 1.11 1.67 1.67 5 8 200 20 40 100 250 350 0.50 1.25 1.75 2.50

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