Part 1- Practice- Assume that you sell churros in a perfectly competitive product mancer and fire workers in a perfectly compaplive labor market. The price of churros is 54 and the wage is $10, Complete the table and answer the questions. Why are your workers Unes Total Marginal Product Tofail Marginal Marginal considered wage lakers? Of Product Product Price |Revenue Revanua Resound Type here (P) (TRI Cost ack 2. How many workers should you hire to maximize profit? Type here 2 17 3 Assume that your fixed costs are $20. Calculate your profit or loss. Show your work. Type here Part 2 - Graph Ji- Draw correctly labeled side-by-side graphs for the labor market and for your fon Label the equilibrium wage and quantity W, and Q. and the quantity of labor for your hen ,. A Blow what will happen on both graphs if there is a decrease in the supply of workers equabrum wage and quantity vy, and Q. and the car