Average product of labor and the marginal product of labor

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A firm has the following output and labor combinations, given 20 units of capital:

L          10        11        12        13        14

Q         48        55        61        65        67

a) Calculate the average product of labor and the marginal product of labor when L=11, 12, 13, and 14.

b) Suppose that capital costs $30 per unit (r = $30). What is the average fixed cost for each level of output?

c) Suppose that labor costs $40 per unit (w = $40). What is the average variable cost for each level of output?

d) Calculate the marginal cost for Q at levels of 55, 61, 65, and 67.

Reference no: EM131464155

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