a. Fill in the table, writing out dollars and cents e.g. $1.00 or $0.10. Note: Round 0.005 up to 0.01. (1) (2) (3) (5) Labour Total Product Marginal (4) (8) (9) Product Fixed Costs Variable (6) (7) (10) (workers per (burgers per Average (burgers per ($ ) Costs Total Cost Marginal Cost Average Fixed day) day) Cost Variable Cost Average Cost day) ($) ($) ($) ($ ) ($) ($) 0 0 400 0 400 130 1.46 1 130 400 190 590 3.08 252 0.75 2 382 400 380 780 1.04 188 1.02 3 570 400 570 970 0.70 98 1.94 4 668 400 760 1160 0.60 22 8.63 5 690 400 950 1350 0.58b. Draw a graph showing the marginal cost, average fixed cost, average variable cost, and average cost curves. Using the tools provided plot 5 points for the marginal cost curve, 5 points for the average fixed cost curve, 5 points for the average variable curve and 5 points for the average cost curves for a total of 20 points. To manually plot values first click on the line segment between two points plotted in the graphing area then click on the icon of a widget to bring up the manual data entry box. Remember that marginal values such as marginal cost are plotted halfway between the two relevant quantity levels on the horizontal axis. Short Run Costs Pete's Burger Joint 10 Tools 9 Marginal Cost Average Varia 6 n Average Cost Average Fixed $ per Burger - NW AFC O 100 200 300 400 500 600 700 800 Quantity of Burgers per Dayc. Describe the shape of the average fixed cost curve. How does its shape differ from that of the average variable cost and average cost curves? The average fixed cost curve is a ( (Click to select) * ) that becomes flatter at higher quantity levels. This differs from the shape of the ( (Click to select) * and (Click to select) curves, both of which are ( (Click to select) d. At what quantity, referring to the quantities in column (2) in the table above, do average variable cost and marginal cost have the same value? At what quantity, referring to the quantities in column (2) in the table above, do average cost and marginal cost have the same value? Marginal cost and average variable cost pass through the same set of values at a quantity of (choose from the quantities listed in the total product column above). Marginal cost and average cost pass through the same set of values at a quantity of (choose from the quantities listed in the total product column above)