a) How did you calculate TVC?

Suppose a firm produces paper planes using one variable factor, labour and one fixed factor, capital. Labour can be hired at a cost of $50 per hour. Complete Table 2 calculating Marginal Product (MP) of each additional worker hour, the Total Variable Cost (WC) and Marginal Cost (MC). TABLE 2 - Pager glans per hour 3 n worker hrs Output/hr TVC 100 $50.00 H 210 $100.00 LD 330 5 150.00 430 $200.00 510 $250.00 0| 560 $300.00