Suppose that Lynn's output of hand-made mittens per hour is deter-

mined by the following table. Suppose she is paid $15 per hour.

Hours Worked Marginal Product

1 4

2 3

3 1

(a) Copy the table above and add information on the total output.

(b) Graph and label the total product curve.

(c) Graph and label the total cost curve.

(d) Add the total and the marginal cost of production to the table.

(e) Describe the the pattern of marginal returns and marginal costs