Lee’s accountant recorded the depreciation on Lee’s cottage during 2011 as $7,000. What did the accountant say Lee’s profit or loss was? Calculate the marginal product of the third student and the...

Lee’s accountant recorded the depreciation on Lee’s cottage during 2011 as

$7,000. What did the accountant say Lee’s profit or loss was?

Calculate the marginal product of the third student and the average product

of three students.