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A. Fill out the columns of the table. number of workers. 0,1,2,3,4,5,6,7 output. 0,12,31,41,50,58,64,67 MP. VC. 0,30,60,90,120,150,180,210 FC. 110, Tc Avc Afc Atc Mc b.

A. Fill out the columns of the table.

number of workers. 0,1,2,3,4,5,6,7

output. 0,12,31,41,50,58,64,67

MP.

VC. 0,30,60,90,120,150,180,210

FC. 110,

Avc

Afc

Atc

b. The firm is operating in the short run. How can you tell.

c. What is happening to marginal product? Why? At which output level is marginal product greatest?

d. Compare the MP with the MC. What is your observation?

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