Identify the average*, marginal** and total product*** curves in the diagram below. Explain your answer.
*The average product curve graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per-unit output at each level of the variable input.
**The marginal product curve graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of the variable input.
***The total product curve graphically represents the relation between total production by a firm in the short run and the quantity of a variable input added to a fixed input. When constructing this curve, it is assumed that total product changes from changes in the quantity of a variable input like labor, while we hold fixed one or more other inputs, like capital.
Source: The AmosWEB GLOSS*arama is a searchable database of 1,800 economic terms and concepts, http://www.amosweb.com/gls/.