Complete the table.Assume the WAGE RATE IS $10. Is the firm operating in the short run or in the long run?

Units of Labor

Total Output Quantity

Marginal Product of Labor

Total Fixed Cost

Total Variable Cost

Total Cost

MarginalCost

Average Fixed Cost

Average Variable Cost

Average Total Cost

Q/L

Wage*Labor

(TFC+TVC)

TC/Q

TFC/Q

TVC/Q

TC/Q

1

5

5

$6.00

2

15

$1.00

3

30

20

$1.00

4

50

$40

5

75

$70

6

95

$0.18