Complete this homework assignment, then take the Homework 8 quiz to submit your answers. 1. The table below shows the labor productivity data for North Georgia Apple Orchard during the peak of the apple season. a. Fill in the marginal and average product of labor values for the entire table. b. What do you expect to happen to the marginal and average product of labor numbers if North Georgia Apple Orchard increases its stock of capital through machinery purchases? Number of Apples per day Marginal Product Average Product workers (bushels) of Labor of Labor 1 50 2 120 3 180 230 5 270 300 2. North Georgia Skis, Inc. manufactures skis for beginners. Their costs are shown in the table below. Variable Fixed Total Quantity Average Total Average Variable Marginal Cost Cost Cost Cost Cost Cost 0 530 $10 530 2 625 530 3 $45 530 A $70 530 5 $100 530 6 $135 530 a. Fill out the total cost, average cost, average variable cost, and marginal cost for each possible quantity produced Now suppose North Georgia Skis, Inc. produces a quantity of 5 and sells them for $25 each. b. What is their profit or loss? How does the average cost schedule make it easy to tell if the firm is making a profit? Is the fifth unit of the good adding to the profits of the firm