2 McGuire LLC hires workers in a competitive labor market and produces and sells avocados in a competitive product market. The market price for avocados is $4 a bag. The table below shows McGuire's short-run production of avocados. Labor is the only variable input. McGuire's LLC fixed cost is $500. Number of Avocados workers 0 0 60 140 250 OUI A W N 320 380 400 (a) When McGuire's LLC hires the second worker, does it experience diminishing returns? Explain. (b) Calculate the average fixed cost if McGuire's LLC hires-3 workers. Show your work. (c ) If the wage is $200 per worker identify the profit-maximizing number of workers for McGuire's. Explain using marginal analysis (d) If the price of avocados decreases by $2 per bag, would the number of workers hired by Mcguire's be more than, less than, or equal to the number of workers you identified in part (c)? Explain. (e) Suppose that McGuire's hires more workers from a monopsonistic labor market. Would the wage be higher, lower, or equal to the equilibrium wage in a perfectly competitive labor market