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1- Refer to the information provided in Tablel. The table sets out Sue's Surfboards' total product schedule. Answer the following questions. Table 1 Labour Output
1- Refer to the information provided in Tablel. The table sets out Sue's Surfboards' total product schedule. Answer the following questions. Table 1 Labour Output (workers (surfboards per week) per week) 1 30 2 70 3 120 4 160 5 190 6 210 7 220 Calculate the average product of labour Calculate the marginal product of labour c. Over what output range does Sue's Surfboards enjoy the benefits of increased specialization and the division of labour? d. Experience diminishing marginal product of labour? Fr?\" 2) Use the table 1 in Q1 to work Q2: If Sue's Surfboards hires workers at $500 a week and its total fixed cost is $1,000 a week. a. Calculate total cost, total variable cost, and total fixed cost of each output in the table. b. Calculate average total cost, average fixed cost, average variable cost. and marginal cost of each output in the table
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