Exercise 2 Explain how the listed events (a d) would affect the following at Qantas Airways: i. Marginal cost ii. Average variable cost iii. Average fixed cost iv. Average total cost a. Qantas signs a new contract with the unions that requires the company to pay higher wages. b. The federal government starts to levy a $20 per passenger carbon emissions tax on all air travel. c. The company decides to give its senior executives a onetime $100 000 bonus. d. Qantas decides to increase the amOunt it spends on advertising. Exercise 5 Average Cost (dollars per sweater) ATC, ATG2 0 3,500 4,000 4,700 6,500 Quantity (Sweaters per month)d. If these two factory sizes are the only sizes possible, draw the Long Run Average Cost curve. e. What is the minimum efficient scale of this production process