Chart 1 A firm combines labor (L) and capital (K) to produce output (Q). The price of one unit of labor is 30 and the price of one unit of capital is 10. This firm is producing in the short run (remember that in the short run there is one fixed resource, in this case, capital). Complete the following chart for this firm a TC TFC TVC ATC AFC AVC MC 0 0 1 30 0.75 2 3 20 170 4 0.8 What is the average total cost of the firm when it uses 2 (two) units of labor? 171 325 7.67 1.18 QUESTION 7 Chart 1 hines labor joy and capital (K) to produce output (Q). The price of one unit of labor is 30 and rrs to save all answers