# Problem solving and graphing

Complete the following table, assuming that each unit of labor below costs $75 per day.

L Q TFC TVC STC MC

0 0 $300 $ $ $

1 5 75 15

2 11 150 450 12.5

3 15 525

4 18 300 600 25

5 20 37.5

a. Graph the fixed cost, variable cost total cost curves for these data.

b. What is the marginal product of going from two to three units of labor?

c. What is the average total cost when output is 18 units per day?

See attatched file. Please fill in table and complete questions with equations

© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/economics/macroeconomics/problem-solving-and-graphing-1u7