1. Fill in the missing cell values. If using excel, show me the formula. Alternatively, calculate by hand and show me the procedure. (10 points)

Output	Total Cost	Fixed Cost	Variable Cost	Average Fixed Cost	Average Variable Cost	Average Total Cost	Marginal Cost
0	$3.00
1	3.3
2	3.8
3	4.5
4	5.4
5	6.5
6	7.8
7	9.3
8	11
9	12.9
10	15

1. Caroline wants to start her own business. She has two ways of raising the funds required to get everything started before production begins. Caroline uses $300,000 of her savings to start her firm. It was in a savings account paying 5% interest. Alternatively, Caroline can borrow $200,000 from a bank, paying 8% interest rate on her loan (payable in a year), and use $100,000 from her savings. Calculate the accounting and economic costs for each option, and select the option that would be best for her. (10 points)

1. Fill in the values in the missing cells in the table below: (20 points)

(1) Number of Workers	(2) Output	(3) Marginal Product of Labor	(4) Cost of Factory	(5) Cost of Workers	(6) Total Cost of Inputs	(7) Average Fixed Cost	(8) Average Variable Cost	(9) Average Total Cost	(10) Marginal Cost
0	0		$30	$0
1	50		30	10
2	90		30	20
3	120		30	30
4	140		30	40
5	150		30	50
6	155		30	60

Show your work clearly and graph the cost curves, with output on the X-axis and Cost on the Y-axis.