Question

Graphically illustrate her total, marginal and average product curves as well as her marginal and average variable cost curves. Show where the inflection point lies, where production is maximized and what number of workers corresponds to the highest average and marginal product as well as the lowest average variable and marginal cost.

TPL - Total Product Labor
MPL - Marginal Product Labor
APL - Average Product Labor
FC - Fixed Cost
VC - Variable Cost
TC - Total Cost
AFC - Average Fixed Cost
AVC - Average Variable Cost
ATC - Average Total Cost
MC - Marginal Cost