Please assist in filling out the chart. ↑Q ofWorkers01234LONSC Bakery specializes in making bread. It has fixed costs associated with space andequipment of $200 per day. Each worker is paid $100 per day, which is their onlyvariable cost. Your task is to fill-in the cells (those with a ?) in the following table.(Round to two decimal places - Example: 2.33)5Q ofBread(Loavesper day)0356590110120Marginal TotalAverage TotalProduct Variable Variable Fixedof eachworker?????Cost(TVC)?????Cost(AVC)???ני??Cost(TFC)?????AverageFixedCost(AFC)??טי???TotalCost(TC)?????MarginalCost(MC)of eachloaf?????

The marginal product of workers is equal to the increase in output when one more worker is added. Total variable cost is equal to the total cost minus fixed cost. The average variable cost is the variable cost per unit of output. Total fixed cost is the cost of fixed input such as rent on land etc Fixed cost remains fixed and does not vary as output increases or decreases. Average fixed cost = Fixed cost per unit of output Marginal cost: Marginal cost is the ratio of change in cost with change in output. MC=∆TC∆Q Marginal product: For worker 1: MP(1)=TP(1)-TP(0)MP(1)=35 For worker 2: MP(2)=TP(2)-TP(1)MP(2)=65-35MP(2)=30 and so on ... Total variable cost: The wage rate per worker is $100 so variable cost = 100* the number of workers. For output 0, the worker is 0 so the total variable cost is zero To produce 35 outputs, one worker is used so the total variable cost is 100 To produce 35 output, 2 workers is used therefore, TVC =100*2=200 and so on... Average variable cost: For Q=35, AVC=10035=2.86 For Q=65, AVC=20065=3.08The fixed cost is 200. So for all Q, TFC =200 AFC =200/Q For Q =35 AFC=20035=5.71 For Q=65, AFC=20065=3.08 and so on... Total cost = 200+100* number of workerMarginal cost: MC35=TC35-TC035-0MC(35)=300-20035MC(35)=2.86Worker Q MP TVC AVC TFC AFC TC MC 0 0 0 200 200 1 35 35 100 2.86 200 5.71 300 2.86 2 65 30 200 3.08 200 3.08 400 3.33 3 90 25 300 3.33 200 2.22 500 4 4 110 20 400 3.64 200 1.82 600 5 5 120 10 500 4.17 200 1.67 700 10