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If you are told that r = $5/hr and K = 10.How would you fill out the missing information in the following table. Q TFC
If you are told that r = $5/hr and K = 10.How would you fill out the missing information in the following table.
Q TFC TVC TC AFC AVC AC MC
0 0
1 30
2 50
3 75
4 105
5 140
Does the data in this table follow the law of diminishing returns?Plus the given
APL= Q/L
MPL=Q/L
TFC = rK
TVC = wL
TC = TFC + TVC
AFC = TFC/Q
AVC = TVC/Q
AC = AFC + AVC
MC =TC/Q
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