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Consider the following short run product and total cost schedule. Labour Total Marginal Average Total Total Total Product Product Product Fixed Variable Cost (TP) (MP)

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Consider the following short run product and total cost schedule. Labour Total Marginal Average Total Total Total Product Product Product Fixed Variable Cost (TP) (MP) (AP) Cost Cost (TC) (TFC) (TVC) 0 0 0.0 48 48 350 35 385 2 140 70.0 350 70 420 3 200 60 66.7 350 105 455 4 252 52 63.0 350 490 5 280 28 56.0 350 175 525 Complete this table by filling in the six empty spaces

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