A firm uses Labour (L) and Capital (K) to produce commodity (Y). The quantities of the inputs and outputs are shown in the table below. L 0 1 2 3 4 5 6 7 8 9 10 K 90 90 90 90 90 90 90 90 90 90 90 Y 0 100 250 420 560 675 760 820 860 885 900 Assuming that the wage rate is Rs. 340/- and the rental rate on capital is Rs. 0.5/-, calculate the short run average variable cost, marginal cost, average fixed cost, average total cost, total variable cost, total fixed cost and total cost. Plot all these curves.

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A firm uses Labour (L) and Capital (K) to produce commodity (Y). The quantities of the inputs and outputs are shown in the table below.

L 0 1 2 3 4 5 6 7 8 9 10
K 90 90 90 90 90 90 90 90 90 90 90
Y 0 100 250 420 560 675 760 820 860 885 900

Assuming that the wage rate is Rs. 340/- and the rental rate on capital is Rs. 0.5/-, calculate the short run average variable cost, marginal cost, average fixed cost, average total cost, total variable cost, total fixed cost and total cost. Plot all these curves.

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