Cecilia pays each of her workers $80 per day. The cost of her other variable inputs are $0.50 per cup of yogurt. Her fixed costs (FC) are $100 per day. a. Calculate variable and total costs for every level of production. Use the Excel template provided. Ensure formulas are used. (13 marks) b. Calculate the marginal cost per cup for all the levels of production. Use the Excel template provided. Ensure formulas are used. (6 marks) c. Using the graph functions on Excel, plot the following curves on the same diagram (4 marks): 1. Variable cost curve 2. Total cost curve d. Using the graph functions on Excel, plot the following curves on separate diagrams (4 marks): 1. Marginal product curve (from Part 1 above) 2. Marginal Cost curve e. Using both the Marginal Product and Marginal Cost curves in your diagrams above, explain the relationship between Marginal Product and Marginal Cost. Is this relationship the same in the long run as in the short run? Explain. (6 marks) Frappy Frozen Yogurt Marginal Variable Costs (VC) Fixed Costs (FC) Total Costs Marginal Cost per Quantity of labour (workers) Quantity of Frozen Marginal Cost (MC) Product (TC=FC+VC) cup Yoghurt cups (MP) $ $ $ $ Qty x MC 0 100 50 100 IN 120 100 W 200 100 250 100 UI D 280 100 6 300 100