Graph the fixed cost and variable cost


Problem: Complete the following table, assuming that each unit of labor below costs $75 per day.

L        Q        TFC        TVC        STC        MC
0        0        $300        $              $           $
1        5          75         15
2        11        150      450          12.5
3        15                                   525
4        18                   300         600        25
5        20                                                37.5

1) Graph the fixed cost, variable cost total cost curves for these data.

2) What is the marginal product of going from two to three units of labor?

3) What is the average total cost when output is 18 units per day?

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Macroeconomics: Graph the fixed cost and variable cost
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