Question 1

The total product table for a company is the following (15 points)

Labour	Total Output
1	1
2	3
3	6
4	10
5	15
6	21
7	26
8	30
9	33
10	35

1. Draw the total product curve (3)
2. Calculate the marginal product of labour. What pattern do you observe? (3)
3. Suppose the price of labour is 400 dhs per labour and the fixed cost is 1000 dhs. Calculate the MC,AVC, TVC, TC, ATC. Plot all these curves on a single graph (5)
4. Briefly comment on the shape of the ATC and MC (2)
5. Suppose in part 3, the fixed cost increases to 1500dhs. What changes occur in the short run MC and average cost curves (2)