1. Complete the table above, assuming costs per worker are $25/day

2. What is the point of maximum productivity:___ units of labour (input)

3. What is the AVC____ and ATC___at this quantity?

4. What is the quantity of output where diminishing returns sets in?_

5. What is the AFC at 32 units of input:_____

Labour (days) TP AP (Avg. (Output) (Input) Product) 0 0 -- 8 50 6.3 15 125 21 260 12.4 25 315 12.6 32 330 45 345 TC MP TFC (Total Cost) -- 350 10.7 7.7 TVC 375 AVC ATC MC -- -- -- 4.00 3.00 525 2.60 13.8 775 2.1 950 1125 4.00 1.98 1.82 11.67 3.26 3.70