Question

Labor	Total Product	Marginal Product
4	110
5	115
6	122
7	127
8	130
9	132
10	133

Output	TC	TVC	TFC	MC	ATC	AVC	AFC
0	30
1	35
2	60
3	110
4	200
5	320
6	600

Complete the following table

Answer 1

Labor	Total Product	Marginal Product
4	110	NA
5	115	5
6	122	7
7	127	5
8	130	3
9	132	2
10	133	1

Formula of MP = ∆TP ÷ ∆Labor

Output	TC	TVC	TFC	MC	ATC	AVC	AFC
0	30	0	30	NA	NA	NA	NA
1	35	5	30	5	35	5	30
2	60	30	30	25	30	15	15
3	110	80	30	50	36.66667	26.66667	10
4	200	170	30	90	50	42.5	7.5
5	320	290	30	120	64	58	6
6	600	570	30	280	100	95	5

TFC = 30, remains constant at all levels of output

TVC = TC – TFC

MC = ∆TC ÷ ∆Output

ATC = TC ÷ Output of AFC + AVC

AFC = TFC ÷ Output

AVC = TVC ÷ Output