1. Using all this information complete the following table and answer the questions. It would be easier if you set this up in an Excel spreadsheet. When you are done, you must submit it as a Word document with your answers. You will use this table to answer questions 2 and 3, (4 marks) Your first step is to identify which are fixed costs and which are variable costs. If you will have to keep paying the cost whether you produce 0 units of the product or 10,000 units, then it is a fixed cost. In the short run you have to keep paying it. In the long run you are be able to change these fixed costs. A variable cost changes based on how much of the product you produce. But the variable costs may not change all at the same time. # of workers Q TVC AVC AFC TC ATC MC TVC/Q FC/Q FC + VC TC/Q ATC / AQ 0 0 1 9,000 2 22,000 3 38,000 4 56,000 5 66,000 6 72,000 73,000