PART I.

Use what you've learned about production/costs and perfect competition to answer a few questions about a yogurt business.

The details of your circumstances :

• You have already paid for 1 month's rent ($3000) and your commercial property landlord is allowing you to lease the space on a month- to- month basis. There are 30 days this month.
• You own three frozen yogurt machines already and a commercial-grade refrigerator/freezer (they were gifts from your rich uncle who just wants you to succeed).
• You observe that the cost of the yogurt mix, cones, cups and sprinkles and the imputed cost of utilities cost you $0.50/cup.
• You have already paid the first month's lease. Today is the start of the month.
• You can only hire labor for the entire day (ie, 8 hours/day shifts and the daily salary is $80/worker)

Also, labor can generate the following output(s):

Labor (# of employees hired)/day	Output Produced/day
0	0
1	100
2	190
3	260
4	290
5	310
6	320

QUESTION 1 ) The name of your business(I love creativity) AND more importantly (2) state the quantities of frozen yogurt you would willingly supply to the market at each of the following (specific) prices given that you can only hire labor for the entire day (ie, 8 hours/day shifts and the daily salary is $80/worker). You have already paid the first month's lease. Today is the start of the month.

Price	Quantity Supplied Per Diem (Your Responses)
$1.00
$1.30
$1.39
$1.50
$1.64
$1.85
$2.00
$2.25
$2.50
3.16
4.50

II. Please complete the following table. Here, it is embedded as an image, but to make it easy for you, the Excel formatted file is added as an attachment at the bottom of this post.

Your Yogurt Business Name is [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] Variable Cost(s) ATC AVC AFC Total Fixed (Average (Average (Average MC Variable Cost PER Total Total Variable Fixed (Marginal Labor (n) Output (Q) Cost of Labor Cost of Materials Costs DAY Costs Cost) Costs) Costs) Costs 0 $100 100 $100 190 $100 3 260 $100 290 $10D Un 310 $100 320 $100