1. Answer the Following Questions Based on the Figure Below:

Total fixed Total variable Labor Output Total cost, TC (workers) cost, TFC cost, TVC (units) (dollars) (dollars) (dollars) 0 O 20 0 20 1 4 20 25 45 2 20 50 70 13 20 75 95 16 20 100 120 5 18 20 125 145MC ATC AVC Revenue and cost (dollars per unit) U O -NWA O 10 20 30 40 50 Output (units per day)