Cal Poly MICRO 201 – units of labor total output

units of labortotal outputMarginal ProductFixed Productvariable costtotal costaverage fixed costaverage variable costaverage total costmarginal cost00 —01500.00————16060400.006.676.672150800.0015.3332101200.007.1442401600.0012.9213.33352602000.007.6962702400.005.56Given the above table, which shows the weekly production information for a company that produces cases for tablets, complete the following: 1) Complete the complete the above table (Note: For cost data, input your answers as displayed, rounding your answers for costs up to the nearest 2 decimal places. Ex. 3.574 should be entered as 3.57).2) At what unit of labor does diminishing marginal returns set in?3) If the price was $21, how many units would the above firm choose to produce to maximize profit (i.e. what would be the firm’s profit maximizing quantity)? (Note: Round to the nearest whole number. Ex. 1205.35 as 1205)4) Given your answer to #3, what would be the firm’s profit? (Note: Round to the nearest whole number. Ex. 1205.35 as 1205)