Suppose Bright Night Flashlight Company produces flashlights using robots and a fixed amount of labor to oversee and repair robots. The table below indicates how the number of flashlights produced and the total cost depends on the quantity of robots acquired. Robots Total Output (per unit) Total cost ($) 0 0 40 2 90 5 140 10 190 VOU A W N H 15 240 19 290 22 340 24 390 00 25 440 (a) What is the marginal product of the third robot? Show your reasoning. (b) (i) Discuss what it means to have diminishing marginal returns. (b) (ii) How many flashlights does Bright Night Flashlight Company need to acquire before it begins to experience diminishing marginal returns? (b) (iii) Explain using numbers from the table. (c) Calculate the marginal cost of the 15th flashlight. Show your work. (d) Suppose Bright Night Flashlight Company can sell any quantity of flashlight to retail stores for $30 per flashlight: (i) How many robots should this firm hire in order to maximize profits? (ii) Calculate the profit at this level of output. Show your work