3. Watch this video: https://www.youtube.com/watch?v=Yd2SW-Fys6I a. What are some variable inputs? Include some that are not in the video. b. What are some fixed inputs? Include some that are not in the video. c. Write an equation for how you'll calculate marginal product in the table below: d. Write an equation for how you'll calculate for average product in the table below: e. The following table describes the quantity of records that Third Man Records is able to make during a day. Labor can be hired for $50/unit and your firm's fixed costs are $2000. Your firm's production function is given in the table below. DON'T FORGET THAT AVERAGE COSTS (AVC, AFC, ATC) AND MARGINAL COSTS ARE RELATIVE TO Q- DON'T DIVIDE BY L. Complete the table. Labor Output MPL APL VC FC TC AVC AFC ATC MC 1 10 2 70 3 130 4 5 240 6 280 7 8 9 330 47.5 15 40 f. g. Does this table represent the short or long run? How do you know? Describe the shape of the MPL. Does this firm experience diminishing returns to labor? If so, when do they "set in"? Explain 4 h. Intuitively, what will cause diminishing returns to set in for the vinyl record business? Be specific to the video. Describe the shape of the MC. How is that shape related to your answer to part g?