(KEY QUESTION) A commercial fisherman notices the following relationship between hours spent fishing and the quantity of fish caught: Hours Quantity of fish (kg) 10 18 3 24 4 28 30 a. What is the marginal product of each hour spent fishing? b. Use these data to graph the fisherman's production function. Explain its shape. C. The fisherman has a fixed cost of $10 (his rod). The opportunity cost of his time is $5 per hour. Graph the fisherman's total-cost curve. Explain its shape.

Q: VC FC TC AVC AFC ATC MC 0.00 3,780.00 NA NA NA NA 1 400.00 2 700.00 3 900.00 4 1,000.00 1,050.00…

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Q: How were the figures calculated?

A: Answer is given below

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