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2. Assume that the fixed costs for a soybean farm, which include the costs of land, equipment and fertilizer is $10,000 per year and that

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2. Assume that the fixed costs for a soybean farm, which include the costs of land, equipment and fertilizer is $10,000 per year and that labor is the only variable cost of running the farm. And assume that the firm pays each worker $2,000 a month. The productivity of labor is shown in the following table. Amount of Labor Total Output {Person months) (bushels) 0 0 1 5 2 14 3 2T 4 36 5 44 6 48 T" 5 l 8 52 9 53 10 54 Bases on the information above, complete the following table and graph AVC, ATC and MC (A graph produced by excel is preferable.)

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