What's More Complete the cost table. You may use a separate sheet of paper. Refer to the summary of cost concepts for the formula. Kindly show your solution at the back. Q TC TFC TVC 100 AVC 100 ATC MC 130 100 2 150 100 3 160 100 4 172 100 5 185 100 6 210 100 7 240 100 280 100 9 330 100 10 390 100 What I Have Learned? In this time of pandemic, what business venture will suit you? how important it is to be meticulous about your pricing, production and cost in your supposedly business venture? Explain in 3 sentences. What I Can Do Answer the question. A. What is production? Give at least 3 products and use a flowchart to illustrate the production process. B. Suppose that the production of face mask can be produced using two different production techniques A and B. The following table provides the total input requirements for each of five different total output levels. Compute for the least cost of production and determine the best alternative in producing face mask. Use separate sheet for your answer. Where Q is quantity, K is capital and L is labor Q = 1 Q = 2 Q =3 Q =4 Q =5 Technology K L K L K L K L K L A 5 2 10 5 14 6 18 8 20 B 5 2 8 3 11 4 14 5 16 6 1. Assuming that the price of labor is 1 peso and the price of capital is 2 pesos. Calculate the total cost of production for each of the five levels of output using the optimal technology at each level. 2. Under the assumption that the price of labor rises from 1 peso to 3 pesos while the price of capital remains at 2 pesos. Compute for the production cost