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(Total Cost and Marginal Cost) Complete the following table, where L is units of labor, Q is units of output, and MPL is the marginal

(Total Cost and Marginal Cost)Complete the following table, whereLis units of labor,Qis units of output, andMPLis the marginal product of labor.

LQMPLVCTCMCATC00$0$1216$315215$6321$9526$15

  1. At what quantity of labor do the marginal returns to labor begin to diminish?
  2. What is the average variable cost whenQ
  3. =
  4. 24
  5. ?
  6. What is this firm's fixed cost?
  7. What is the wage rate per day?

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