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You have collected the following data on output and total variable costs: Q TVC ($) 10 5,830 20 9,840 30 12,810 40 15,520 50 18,750

You have collected the following data on output and total variable costs:

Q

TVC ($)

10

5,830

20

9,840

30

12,810

40

15,520

50

18,750

60

23,280

70

29,890

80

39,360

90

52,470

100

70,000

  1. Identify the range of output exhibiting increasing returns (increasing MP), and the range exhibiting diminishing returns (decreasing MP).

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