Please completEEEe answer and Please add the referrences using this format :

References:

(List down the references that you used complete with name of author, title of article/book/material, publisher, year published.)

ACTIVITY 1

1. Define the following :

• Production
• Production Function
• Total Product (TP)
• Marginal Product (MP)
• Average Product (AP)
• Elasticity of Production (E) Define

ACTIVITY 2

1. Define the following and provide the formula for each:

• Total Revenue (TR)
• Total Cost (TC)
• Marginal Revenue (MR)
• Marginal Revenue Product (MRP)
• Marginal Factor Cost (MFC)