Assess data (in the table below) related to a small lawn mowing business.

Angela hires students at $40 a day to mow lawns.

Regardless of the number of students she hires, Angela leases five lawn mowers for $200 a day

Labor Total Product

(students per day) (lawns cut per day)

0 0

1 20

2 44

3 70

4 94

5 114

6 120

. Be sure to show your calculations.

*Construct the average fixed cost, average variable cost, and average total cost schedules.

*Construct the marginal cost schedule.

*Check that the gap between total cost and total variable cost is the same at all output levels.Explain why this relationship is so important and demonstrate clear insightful and critical thinking