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Law of diminishing returns

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Reference no: EM132517936

If you are told that r = $5/hr and K = 10. How would you fill out the missing information in the following table.

Q TFC TVC TC AFC AVC AC MC

0 0
1 30
2 50
3 75
4 105
5 140

Does the data in this table follow the law of diminishing returns? Plus the given

APL = Q/L
MPL = ?Q/?L
TFC = rK
TVC = wL
TC = TFC + TVC
AFC = TFC/Q
AVC = TVC/Q
AC = AFC + AVC
MC = ?TC/?Q

Reference no: EM132517936

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