b.) Complete the following table ( i.e., solve for the AC at each level of output { 1.0, 2.0, and 3.0): (3) Canoes produced Average Cost Per Canoe 1.0 7 2.0 7 30 7 c.) Complete the following table: (3) Canoes Produced Marginal Cost fthat C 1.0 ? 2.0 ? 3.0 ? d.) Graph the curves that correspond to your answers to b.) and .) { don't worry about the scale). (1) e) Now suppose the firm operates in a competitive market. If the market price of'a canoe = $700, will the firm produce the 3" canoe ( per day)? Explain ( using marginal analysis). (3) 2. Consider a firm that produces canoes. All inputs are fixed except the number of workers hired to make canoes. The schedule of output as the number of workers changes is as follows: Number of Workers Canoes ( per day) .1 .35 .65 1.0 1.4 2.0 2.35 2.65 2.85 2.95 3.0 Suppose each worker must be paid $150 per day. You can ignore any other costs( i.e., assume that the only cost is workers). a.) What is the "optimal team size" for this firm ( give a numerical answer)? (.5)