Answer the questions below and include the solutions:

Question 1

Assume that there are 70 workers who can produce a total of 100 units of output (Q) per day with the cost of raw materials of PhP1,500. Also, each worker is paid PhP50/day with the depreciation cost of machineries and equipment of PhP300, leasehold expense of PhP800, utilities expense of PhP400, loan payments of PhP400, and opportunity cost of PhP250 and sunk cost of Php150. What are the average total costs (ATC) of the output produced by 70 workers and the economic profit/loss if the price of good is PhP75/unit? *Consider the following schedule showing the total utility and marginal utility obtained from eating a fried chicken meal at MoGeorge Canteen. Complete the missing values in the table below. * Quantity Total Utility Marginal Utility {Clips} lTUl {MU}