Marginal Resource Cost Exercise 1 (Algo) Stephanie is looking to hire workers to help her produce earrings. The current hourlyr market wage rate is $16 per worker. Assume this is a perfectly competitive market. Fill in the \"Total Labor Cost" and \"Marginal Resource Cost\" columns in the table below. Instructions: Enter your answers as a whole number. Stephanie's Resource Costs Labor Total Labor Cost Marginal Resource Cost [worker5) [dollars per hour} (dollars per hour) Ronnie owns a cookie store. He has carefully recorded the number of cookies that his shop can produce per day with different numbers of workers. The table below shows the different number of workers and the \"Total Product\" column shows their output. The current market price for Ronnie's cookies is $1.20 per cookie. Assume this is a perfectly competitive market. Fill in the \"Marginal Product," \"Total Revenue,\" and \"Marginal Revenue Product\" columns. Instructions: Enter your answers as a whole number. Ronnie's Cookie Store and Revenues L abor Tot a1 Product Marginal Product Pri Ge Tot 31 Revenue Margi nal Rave nue (workers) (cookies) (cookies) (dollars) (dollars) Product (dollars) \"_ \"-_--_--_