Quantity of labor Total product 4. The table has the total product schedule for an imaginary (workers) (widgets per day good called a widget. Each unit of labor costs $45 and the 0 O total cost of capital is $150. 1 5 a) Use this information given to calculate FC, VC TC, AFC, 2 15 AVC, ATC and MC. 35 b) Suppose that labor becomes twice as expensive (so that UI AW 50 one unit of labor now costs $100) but nothing else changes. 60 calculate FC, VC TC, AFC, AVC, ATC and MC. If you 6 65 plotted the cost curves, how would the increased wage rate affect the cost curves