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Consider the following short run product and total cost schedule.
Labour
Total Product (TP)
Marginal Product (MP)
Average Product (AP)
Total Fixed Cost (TFC)
Total Variable Cost (TVC)
Total Cost (TC)
0
0.0
1
48
350
35
385
2
140
70.0
70
420
3
200
60
66.7
105
455
4
252
52
63.0
490
5
280
28
56.0
175
525
Complete this table by filling in the six empty spaces.
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