(d) Describe the relationship between the marginal product of labor and the marginal cost of the firms product.

(e) Describe the relationship between the average product of labor and the average variable cost.

Quantity Marginal Average Total Average of labor Total product product variable Marginal variable employed output oflabor of labor cost cost cost 10 10 10.00 $ 10 $ 10 $_10 22 12 11.00 24 14 12 36 14 12.00 42 18 14 48 12 12.00 48 6 12 58 10 11.60 50 2 10 66 ON+ 0 00 1 1.00 48 -2 72 10.28 42 6 76 9.50 32 -10 78 8.66 18 14 78 7.80 _O - 18 O