KEY QUESTION Complete the following table by calculating marginal product and average product from the data given:

Plot the total, marginal, and average products and explain in detail the relationship between each pair of curves. Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishing returns have on short-run costs? Be specific.
“When marginal product is rising, marginal cost is falling.
And when marginal product is diminishing, marginal cost is rising.” Illustrate and explain graphically.

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Inputs of Labor Total Product Marginal Product Average Product 0 0 I 15 2 34 3. 51 45678 65 74 80 83 82