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Input Total Product 1 5 2 20 3 32 4 42 5 50 6 55 7 58 8 9 56 1. From the table given
Input Total Product 1 5 2 20 3 32 4 42 5 50 6 55 7 58 8 9 56 1. From the table given above, answer the following questions. a. Find AP and MP b. With the addition of how many units does diminishing marginal returns set in? c. At which unit of input does negative marginal returns set in? (2marks) 8 o o 0AWNO 58 2. Ali left his job that paid him a salary of OMR 35,000 annually to start his own furniture shop. For starting his business, he took over his showroom which he had given for rent at OMR 7000. His expenses at the shop are OMR 8,000 for utility bills and OMR 12000 for raw materials. Find accounting profit, economic profit and normal profit if his total revenue from the business is OMR 108,000
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