Note: Be sure to answer all parts to the questions and show your work. 1. I have to drink cups of coffee (x) to come up with ideas (y) for microeconomics questions (clearly I may need to choose a different input to generate more exciting questions). I've discovered that the relationship between drinking coffee and coming up with ideas can be represented by the following function: y = 2x0.25 a. If I can buy coffee for $0.50 per cup (obviously, I do not drink Starbucks coffee), derive and plot (in Excel) 1) total costs, 2) average variable costs (AVC), and 3) marginal costs (MC). b. Demonstrate that the marginal cost of increasing the number of production economics questions is directly related to average costs (hint: make a table that includes the adjustment factor and use it to estimate marginal costs). Discuss why this makes sense