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The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering

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The following data show the total output for a firm when specified amounts of labour are combined with a fixed amount of capital. When answering the questions, you are to assume that the wage per unit of labour is $40 and the cost of the capital is $300.

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Labour per unit of time Total output MP FC VC TC MC AFC AVC ATC 0 O - 25 D 2 75 A F 3 175 C 4 250 B F 5 310 D

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