1. For the company Exito the following produc9on func9on is given. (Shows the calcula9on). Round to two decimal places.

Job	Total Production	Total Cost	Total Fixed Cost	Total Variable Cost	Total Average Cost	Marginal Cost
0	0	$2,000
3	100	$3,500
8	200	$4,000
9	320	$6,400
10	450	$11,600

a. Calculate the total fixed cost, total variable cost, total average cost and marginal cost. the total variable cost curve.

b. Draw a graph with the total variable cost curve.

2. Jose quit his job as a chef where he received a salary of $60,000. He took his $50,000 savings (for which he received 10% annual interest) and opened a restaurant. After the first year his accountant gave him the following list of expenses: Food $10,000

Salaries $25,000

Services $8,000

Other $12,000

If the restaurant had revenue for that year of $180,000, determine the accounting profit and the economic profit.