# Production curve

Please help with the following problem. See the complete description of the problem in the attached document.

1) Complete the table (Table 1) below

2) Use Excel to draw the total product (TP) curve.

3) Use Excel to draw the average product (AP) and marginal product (MP) curves in the same space

4) Use the information from the completed table and the graphs to identify the three stages of production

5) Explain why the firm's short run production has only one 'rational' stage of production

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#### Solution Preview

Please see attachment for charts and diagrams to go with the solution.

1) Complete the table (Table 1) below.

2) Use Excel to draw the total product (TP) curve.

3) Use Excel to draw the average product (AP) and marginal product (MP) curves in the same space

Table showing the Average and Marginal product of labor for a hypothetical ...

#### Solution Summary

This solution uses excel to draw the average product (AP) and marginal product (MP) curves in the same space. Diagrams and charts are included in the answer.