Production and Cost Analysis in the Short Run. (Microeconomic Analysis)

1). The following table shows data for a simple production function.
a). from the information in the table, calculate marginal and average products.

Capital (K)Labor (L)Total product(TP)Average product(AP)Marginal product(MP)
1000
1015
10215
10330
10450
10575
10685
10790
10892
10992
101090

b). Graph the three functions (put total product on one graph and marginal and average products on another).

c). For what range of output does this function have diminishing marginal returns?

d). At what output is average product maximized?

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