Question

 

Units of labor	Units of Output	Average Product	Marginal Product	Fixed Cost	Variable Cost	Total Cost	Average Variable Cost	Average Total Cost	Marginal Cost	Profit	Producer Surplus
1	5
2	15
3	30
4	50
5	65
6	77
7	86
8	94
9	98
10	96

The firm has fixed costs of $50, labor costs the firm $10 per unit, and the firm faces a market-determined price of $2.00 per unit of output. Complete the above table.