Labor Quantity. Price QuantityDemanded Price Quantity Supplied

0. 0.

3 12. 5,00 10 1,10 100

6. 36. 4,50 20 1,00 90

9. 72. 4,00 30 0,90 80

12 120. 3,50 40 0,80 70

15. 180. 3,50 50 0,70 60

18. 228. 2,50 60 0,60 50

21. 264 2,00 70 0,50 40

24. 288. 1,50 80 0,40 30

27. 300. 1,00 90 0,30 20

30. 300 0,50 100 0,20 10

33. 288

You are a project manager of a company producing a homogeneous product.

Your Research Department has given you the production schedule above.

The price of the homogeneous product is determined by the perfectly competitive market. Yet have to pay all your laborers a wage of $8 per worker.

The fixed cost of your operations is $50, regardless of the level of output. The firm is a business entity that is committed to operate where its profits are maximized.

What is the output level that you as project manager will require your company to produce?Justify this recommendation through deriving the TR, TC, MP, AFC, TVC, MC, AVC, TFC, AP, TC,ATC, MR, and profit schedules.

Then explain fully and in complete detail, the methodology used in obtaining your results.