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create a chart that displays your short-run costs. You will need to include number of workers, output, marginal product, fixed cost, variable cost, total cost,
- create a chart that displays your short-run costs. You will need to include number of workers, output, marginal product, fixed cost, variable cost, total cost, change in total cost, marginal cost, average fixed cost, average variable cost, and average total cost in your chart. In addition, you will need to incorporate the following data into your chart. The number of workers will start at 0 and end with 7. The first worker will produce 10000 goods, the second worker will produce an additional 2000 goods, the third worker will produce an additional 30000 goods, the fourth worker will produce an additional 2500 goods, the fifth worker will produce an additional 15000 goods, the sixth worker will produce an additional 10000 goods, and the seventh worker will produce an additional 500 goods. There will be a base fixed cost of $3000 which will cover your start-up equipment and rent. You will be operating your company in your home, so you do not need to pay rent. You will need to determine the supplies you need to produce your good and calculate the cost of the supplies for each good. The variable cost at every output will be calculated by multiplying $100 times the number of workers for labour and adding the cost of your supplies per unit times the output.
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