2. The marginal product of labor schedule for a firm is given below for alternative levels of labor. Calculate the total product schedule, Q, for each level of labor employed.Also calculate the average product schedule, AP_L.

a. Produce a graph of the production function.ie.a graph of Q on the vertical axis and L on the horizontal axis.Identify on your graph where diminishing returns to labor set in.

b. Produce a graph of the marginal product and average product schedules.Put AP_L and MP_L on the vertical axis and L on the horizontal axis.

c. Calculate the MC schedule for the firm if the firm faces a price of labor (the wage) of w=$First and w=$(First+Last), where First=# of the letter corresponding to your first name and Last=# of the letter corresponding to your last name.For instance, B=2, so the wage, w, for the TVC (w=First) column is w=$2.That is, the producer has to pay a wage of $2 per unit of labor.Produce a graph of the two MC schedules as a function of Q. (graph MC on the vertical axis and Q on the horizontal axis for each w.Use the xy graph. The two marginal cost curves should be on the same graph.) MP_L=marginal product of labor.(I am providing the columns for TVC because you will use it to calculate MC).

d. Explain what happens to marginal cost when the price of labor increases.