Our orders are delivered strictly on time without delay 
Using the following production and cost schedule, fill in the remaining blank spaces for the following firm with the information provided:
# of workers Quantity FC VC TC MPL ATC AVC MC
0 0 80
1 625 130
2 1325 180
3 2200 230
4 2600 280
5 2900 330
6 3100 380
Using the results from the chart above, draw the ATC, AVC, and MC curves. Explain why those curves have their shape.
Assume the firm above is in a perfectly competitive industry. Assume the market for the product has an equilibrium price. Using the cost curves from #5 indicate whether the firm is making a profit
Explain in your own words what would happen if the government imposed a price ceiling on gasoline at $4 per gallon. Draw and show the effect you indicated. Show the effects on consumer, producer, and economic surplus based on your drawings.
