1. 7.1The production function for a firm is q=-0.613+18L2K-+10L. where q is the amount of output, L is the number of labor hours per week, and K is the amount of capital. The wage is $100 and the rental rate is $800 per time period. i. Using Excel, calculate the total short-run output, 4(L), for L=0,1,2,...,20, given that capital is fixed in the short run at "K=1. Also, calculate the average product of labor, APL, and the marginal product of labor, MPL. (You can estimate the MPL for L=2as q(2)-q(1), and so on for other levels of L.) ii. For each quantity of labor in (@), calculate the variable cost, VC; the total cost, C; the average variable cost. AVC; the average cost, AC; and the marginal cost, MC. Using Excel, draw the AVC, AC and MCcurves in a diagram. ( Hint: See Q&A 3.2.) iii. For each quantity of labor in (a), calculate w/APL and w/MPL and show that they equal AVC and MC, respectively. Explain why these relationships hold