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Hello, I need help with these questions. Question 2 50 points The Blue-Steel Corporation supplies armored truck manufacturers with high-grade sheet metal panels that are

Hello,

I need help with these questions.

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Question 2 50 points The Blue-Steel Corporation supplies armored truck manufacturers with high-grade sheet metal panels that are used on the exterior of the vehicles. To make the panels, Blue-Steel uses two machines, which cost $15,000 each, and workers. These workers are available on the labor market for a salary of $55,000 each. The market price for one of Blue-Steel's metal sheet panel is $250 and the market is highly competitive. Table 1 Machines Workers 2 2 2 2 2 2 2 0 1 2 3 4 5 6 Total Output 0 400 875 1,255 1,540 1,760 1,960 MPLabor MRPLabor 0 400 475 380 285 220 200 0 100,000 118,750 95,000 71,250 55,000 50,000 Wage per worker N/A 55,000 55,000 55,000 55,000 55,000 55,000 a. What is the total fixed cost for Blue-Steel Corporation? Explain your calculation. b. What is the profit-maximizing number of workers Blue-Steel should hire? Explain your answer. c. What is the profit-maximizing output for Blue-Steel based on your calculations? d. Construct an X-Y Scatter chart using the Workers, Total Output, and MP-Labor column data. At what point does the diminishing returns effect set in

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