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Question 4 a. The following presents the costs and revenues for a rm. Total Cost ' Total Marginal Profit Revenue Revenue 0 1 2 DJ

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Question 4 a. The following presents the costs and revenues for a rm. Total Cost ' Total Marginal Profit Revenue Revenue 0 1 2 DJ :lg]: U1 \"JUN 81 308 i. Calculate the marginal cost, marginal revenue and prot for each unit of production. [6 marks] ii. How many units should the firm produce to maximise prot? [2 marks] [3. Describe the relationship between the marginal product and the total product of a firm [4 marks]

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