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1. You are given the following short-run information for an individual firm.Labor (L) is the only variable input.The wage of each labor per week is

1.You are given the following short-run information for an individual firm.Labor (L) is the only variable input.The wage of each labor per week is $200.Fixed costs are $100/week. Complete the rest of the table.Describe the relationship between the MP and MC.At which output level is there increasing and diminishing marginal product based om the law of diminishing returns?

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