Production and Costs . GRAPHS Production Costs BEER CALCULATIONS Output (Q) Output MP Fixed Variable Total ATC Marginal TP = Q- Costs Costs Costs Costs 700 0.0 100 100 600 1 25.0 25.0 100 20 120 4.800 0.800 500 2 75.0 50.0 100 40 140 400 1.867 0.400 300 3 150.0 75.0 100 50 160 1.067 0.267 200 4 250.0 100.0 100 80 180 0.720 0.200 100 337.5 87.5 100 100 200 0.593 0.229 L 5 412.5 75.0 100 120 220 4 0.533 0.267 8 10 12 7 475.0 62.5 100 140 240 0.505 0.320 AP, MP 8 525.0 50.0 100 160 260 0.495 0.400 100 AP MP 9 562.5 37.5 100 180 280 0.498 0.533 60 LO 587.5 25.0 100 200 300 0.511 0.800 20 11 600.0 12.5 100 220 320 0.533 1.600 0 2 4 6 8 10 12 12 600.0 0.0 100 240 340 0.567 MacBook Pro C G Search or type URL + @ $ % & W# 4 5 O O W E R T Y U O P D F G H K X C V B N MCheck my MP 9 562.5 37.5 100 180 280 0.498 0.533 60 10 587.5 25.0 100 200 300 0.511 0.800 20 11 600.0 12.5 100 220 320 0.533 1.600 2 4 6 8 10 12 12 600.0 0.0 100 240 340 0.567 SETTINGS Reset Fixed Costs (0 - $100) 100 Productivity Index Wage Rate (0 - $40) 20 0% 25%" Instructions: Click the buttons above the graphing window to show either production functions or cost functions. Type in values for Fixed Costs or Wage Rate (the cost per worker). Move the Productivity Index right to see the effect of increasing productivity by up to 25%. The table and graphs will update as Settings are changed. Set Fixed Costs to $100, Wage Rate to $40 per worker, and slide the Productivity Index so that 1 worker yields 22 units of output. This represents 10% greater productivity than the firm's current levels. the marginal cost of each additional unit gained from employing a fourth worker? $ (report your answer to three decimal places) The marginal cost of each unit produced when a fourth worker is hired can be calculated with a subtraction problem within a division problem, using the definition of marginal cost. Show this calculation below. MC = ($ MacBook Pro G Search or type URL + @ A 5 6 O W E R T U O P D F G H J K X C B N M com