Complete the table below, which represents the production costs for a typical firm. (Round numbers to the nearest tenth.)Please note that for the first row (where TP = 0), you cannot calculate the AFC, the AVC, the ATC and the MC, since there are 0 units being produced.However, you are expected to calculate the TC for the first row (where TP =0) and you are also expected to fill in all the other missing numbers in this table.

(Please note that since you are supposed to show calculations, you should at least show the formulas you have used for each of the columns, and show your example calculations for one row of the table.)

TP

TFC

TVC

TC

AFC

AVC

ATC

MC

AutoSave OFF A A ? C ABC E ... wa Problem Set 2 - Saved to my Mac Home Insert Draw Design Layout References Mailings Review View Table Design Layout ? Tell me Share Comments Times New... v 12 EV EVEVEE 24 T AaBbCcDdEe AaBbCcDdEe AaBbCcDc AaBbCcDdEE AaBb( AaBbCCDdEE Paste BI U vab X X|A DAY Norma No Spacing Heading 1 Heading 2 Title Subtitle Styles Dictate Sensitivity Pane b. Can you tell where diminishing marginal returns sets in? Question 2 Complete the table below, which represents the production costs for a typical firm. (Round numbers to the nearest tenth. ) Please note that for the first row (where TP = 0), you cannot calculate the AFC, the AVC, the ATC and the MC, since there are 0 units being produced. However, you are expected to calculate the TC for the first row (where TP =0) and you are also expected to fill in all the other missing numbers in this table. To complete this question, you can reproduce the table in your answer. Use the table icon (it is located next to the anchor icon). Please note that since you are supposed to show calculations, you should at least show the formulas you have used for each of the columns, and show your example + calculations for one row of the table.) TP TFC TVC TC AFC AVC ATC MC 0 $20 $ 0 ------- 1 27.5 $27.5 2 46.8 23.4 3 63.3 82.5 5.0 106.7 126.7 139.7 17 181 28.7 After you have finished filling in the table, please answer this question below. At what level of output do diminishing returns set in? How do you know? Page 1 of 2 548 words X English (United States) Focus E + 130%