Consider the following production and cost schedule for a firm.

Production	Costs
Labor	Output	MPL	APL	FC	VC	TC	MC	AVC	ATC
0	0	-----	-----	200	0	200	-
1	10	10	10.00	200	100	300	10.00	30.00	10.00
2	25	15	12.50	200	200	400	6.67	16.00	8.00
3	45	20	15.00	200	300	500	5.00	11.11	6.67
4	60	15	15.00	200	400	600	6.67	10.00	6.67
5	70	10	14.00	200	500	700	10.00	10.00	7.14
6	75	5	12.50	200	600	800	20.00	10.67	8.00
7	75	0	10.71	200	700	900	-	12.00	9.33
8	70	-5	8.75	200	800	1,000	-20.00	14.29	11.43

Production:

1. Graph total product. Looking just at total product, over what range is there increasing returns to labor? Decreasing? Negative?
2. Calculate the marginal product of labor.
3. Does the marginal product of labor compare with the returns to scale from 1?
4. Calculate the average product of labor.
5. Graph the marginal and average product of labor on the same graph.

Cost Curves:

1. Calculate total cost (TC).
2. Graph the total cost curve. Note the ranges of increasing and decreasing returns to labor on your graph.
3. Calculate marginal cost (MC), average variable cost (AVC) and average total cost (ATC)
4. Graph marginal, average variable, and average total cost on the same graph
5. At what output is the average product of labor equal to the marginal product of labor?
6. What does it mean for average product of labor when APL and MPL are equal?
7. What is total product when MPL is maximized?
8. What is total product when MPL is zero?
9. Assuming a constant price, how many workers should be hired if the firm wants to maximize total revenue?
10. At the output at which the marginal product of labor is maximized, what is happening to marginal cost?
11. At what output is marginal cost equal to average total cost? What are the implications for average total cost of the previous question?
12. At what output is marginal cost equal to average variable cost? What are the implications for average variable cost of the previous question?
13. What is the per unit cost of producing 60 units of output?
14. What is the per unit labor cost of producing 60 units of output?

What is the per unit fixed cost of producing 60 units of output?