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Economics

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1.) Complete the table below. Here are some useful (but un- needed) hints. Each worker costs $30 to employ. Total cost = fixed cost + variable cost Marginal Total Workers Variable Fixed Cost Total Cost Marginal Product Output Cost Cost 0 0 0 60 0 60 0 1 4 4 60 30 90 7.50 2 8 3.75 3 10 4 8 30 What is the average total cost of producing the first four units? Why does marginal cost rise when the fourth worker is employed? If each unit of output sells for $10.00 what is the firms profit if it produces 30 units?