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Finding Total Ecnomic Profit

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Here is the Scenerio-
Labor is only variable input.
Output is 4000 unit
Marginal Product of labor is 10
Average Product of labor is 50
Price of labor is $150
Marginal product of capital is 40
Average product of capital is 60
Price of capital is $240
Total Fixed Cost is $16000

Output MC AVC AFC ATC Total Economic Profit
4000 __ __ __ __ _____

How I find those values....plz show me the Work too

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Solution Summary

The total economic profit is found. The output for MC, AVC, AFC, ATC and total economic profit is found.

Solution Preview

MPL = 10 = Change in number of units/ Change in Labor
<br>APL = 50 = Total Units/ Total Labor
<br>P(labor) = $150
<br>MPC = 40 = Change in number of units/ Change in ...

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