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At the bottom of the first picture for the first empty spot, you can choose between: increasing/diminishing and for the second is increasing/decreasing.

5. The relationship between marginal product and marginal cost Raphael's Big Burger is a small restaurant that sells hamburgers. For Raphael, grills are a fixed input and workers are variable inputs. Assume that labor is Raphael's only variable cost. Raphael has a fixed cost of $100 per day and pays each of his workers $100 per day. Raphael's total output schedule and total cost at each level of labor are presented in the following table. Fill in the blanks to complete the Marginal Product column for each worker and the Marginal Cost column at each level of labor. (Hint: Marginal cost is the change in total cost divided by the change in the quantity of output. You can calculate it here by dividing the increase in total cost from hiring one more worker by the marginal product from hiring one more worker.) Labor Input Total Output Marginal Product Total Cost Marginal Cost (Number of Workers) (Burgers per day ) (Burgers per day ) (Dollars per day ) (Dollars per burger) $100 $ 1 50 $200 150 $300 3 200 $400 225 $500 5 235 $600 When hiring its third worker, Raphael's Big Burger faces marginal returns to labor. Over the range of workers for which the marginal product is decreasing, Raphael's Big Burger faces marginal cost.On the following graph, plot the three short-run average total cost curves (SRATC) for Ike's Bikes from the previous table. Specifically, use the green points (triangle symbol) to plot its short-run average total cost if it operates one factory (SATCy ); use the purple points (diamond symbol) to plot its short-run average total cost if it operates two factories ((SKAT C2); and use the orange points (square symbol) to plot its short-run average total cost if it operates three factories (SR.ATCg). Finally, plot the long-run average cost curve ( LRAC ) for Ike's Bikes using the blue points (circle symbol). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 800 A 720 640 SRATO 560 480 SRATO2 400 -0- COST PER BIKE (Dollars) 320 BRATO 240 O 160 LRAC 100 200 300 400 500 600 700 QUANTITY OF OUTPUT (Bikes)In the long run, over which range of output levels does Ike's Bikes experience constant returns to scale? O Fewer than 300 bikes per month Between 300 and 400 bikes per month O More than 400 bikes per month6. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or eyen three factories. The following table shows the company's short-run average total cost each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) nuerage Total ICost (Dollars per bike) Number of Factories Q = 100 Q = ZIJEI Q = 300 Q = 400 Q = 5|Jl] Q = EDI] 1 44-0 320 24-0 320 480 720 2 SEE 4GB 24D 24B 400 SEIU 3 ?EU 480 32D 24B 320 440 Suppose Ike's Bikes is currently producing 500 bikes per month in its only factory. Its shortrun average total cost is -per bike. Suppose Ike's Bikes is expecting to produce 600 bikes per month for several years. In this case, in the long run, it would choose to produce bikes using v