Microeconomics question

Question 1: The table below provides the total revenues and costs for a small landscaping company in a recent year. some - risk-free return of 2% on owner's mpilal nf$2ll I100 - cost of supplies - depreciation oi'capital equipmenl additional wages the owner could have earned in next best alternative - risk premium of4% on owner's capital of $20 000 Refer to above Table, answer the following questions: a. What is explicit costs and implicit costs for this rm? Answer: l1 Calculate the accounting prots and economic prot for this rm? Answer: Question 2: The following data show the total output for a rm when different amounts of labour are combined with a xed amount of capital. Assume that the wage per unit of labour is $10 and the cost of the capital is $50. Labour per period Total output per period Refer to the above Table, answer the following questions: a. What is the marginal product of the 4th unit of labour hired by the rm? Answer: b. What is the total output per period when this rm is employing labour such that the marginal product of labour is at its maximum? Answer: 0. What is the average xed cost for 150 units of output? Answer d. What is the average variable cost for 132 units of output? Answer e. What is the average total cost for 90 units of output