Units Total Average Marginal of Labor Product Product Product 100 125 300 20 290 a. Fill out the missing items in the table above, please write down the formulas for the three columns that you are using to calculate the values b. Once you have filled out the table, when does diminishing marginal returns set in? Explain your answer in one sentence. c. What is the difference between diminishing marginal returns and negative marginal returns? d. Now suppose the wage is equal to $50. Calculate MC for the units of labor 1 thru 4, using a formula we derived in class, and making use of the values in the table. What is the relationship between MP of labor and MC in the table? e. If the wage went up, what will happen to the MC curve? Hint: you can plot MC against Q f. If the wage was constant, and the MPL increased for all values of Q (the MPI curve shifts up), what would happen to the MC curve? I am not asking you to use numbers, but to reflect on it. Explain in no more than 2 sentences.R. units of labor Total Product Average Product Marginal product 100 100 100 250 125 150 50 UT F W N - 300 100 320 80 20 58 -30 290