Answer to Question #63616 in Microeconomics for liban

Question #63616
2. Here is the relationship between the number of worker-hours (L) and the number of apples produced (Q): L Q 0 0 1 10 2 20 3 29 4 37 5 44 6 50 7 55 8 59 9 62 10 64 Assume wage is $10 per hour, and Total Fixed Cost is $20. For each value of L (from 0 to 10), make a table showing: Marginal Product of Labour; Total Cost; Average Total cost; Marginal Cost. (Like Question 5 page 293 Nimbus Brooms). Explain why there is a relationship between Marginal Product and Marginal Cost.
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Expert's answer
2016-11-25T09:48:18-0500
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