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The data in the table below represents Total product (TP), for an agribusiness involved in potato production. (1) Calculate the marginal product and average product
The data in the table below represents Total product (TP), for an agribusiness involved in potato production. (1) Calculate the marginal product and average product value. (ii) At what point do diminishing marginal returns set in? And using the values of AP and MP obtained from part (i), plot the graphs of TP, AP and MP being careful to fully label the graph and explain brieflyr the law of diminishing marginal returns from your computation
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