1. Each month of 2021 and the first three months of 2022 have seen job creation within the United States according to the monthly Employment Reports from the Bureau of Labor Statistics. As these workers are employed, would this affect the TFC and/or the TVC of a given firm that is employing these newly hired workers?
2. Explain how the law of diminishing returns affects the shapes of the variable cost (TVC) and total cost (TC) curves.