Your business is KITE WORLD. Your Fixed Costs are $70 and Variable Costs are listed. Each of your kites sell for $2.00. You have been assigned the task of deciding how many workers should be hired. Complete the graph below, calculating the Marginal Product, Total Costs, Total Revenue and Profit or Loss Column. Identify the Three Stages of Production on the graph. Identify the probable choice the business would make on # of workers after analyzing the graph. IFC + TVC = TC PX TP TR - TC Number TP Total Total P Profit of Total Marginal Fixed Variable TOTAL Total or workers! Product Product Cost Cost COSTS Price Revenue Loss O O 0 $.70 0 $70 $2.00 0 -70 1 14 46 2 42 92 -: 3 75 138 4 112 18,4 5 150 230 ( *: 6 180 276 7 203 322 8 216 368 9 207 414 10 190 460