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Questions Table 1 shows an LED light bulb manufacturer's total cost of producing LED light bulbs. Table 1 Cases of LED light bulbs Total produced in an hour Cost 0 $4,500 10 $4,900 20 $5,100 30 $5,300 40 $5,400 50 $5,700 60 $6,700 70 $7,900 80 $9,700 90 $ 1 1,800 1. What is this manufacturer's fixed cost? Explain why. 2. Assuming that you only know the total costs (TC) (as is shown in the Table 1 above) explain how you would calculate each of the following: 3. Variable Cost (VG); b. Average Variable Cost (AVG); 0. Average Total Cost (ATC); d. Average Fixed Cost (AFC); and, e. Marginal Costs (of a single case). 3. In Table 2, for each level of output, insert the following values into the table: a. the Variable Cost (VC); b. the Average Variable Cost (AVC); c. the Average Total Cost (ATC); and, cl. the Average Fixed Cost (AFC). Table 2 Cases of LED light bulbs Total Variable Average Average Average produced in an hour Cost Costs Variable Total Fixed Costs Costs Cost a. b. C. d. 0 $4,500 n/a n/a n/a 10 $4,900 20 $5,100 30 $5,300 40 $5,400 50 $5,700 60 $6,700 70 $7,900 80 $9,700 90 $11,800 e. Given the information you computed in Table 2, what is the minimum cost output level? Explain why.Table 3 Dozens Fixed Total ariable Average Variable Average Total of eggs Cost Cost Costs Costs per dozen Costs per dozen 0 $3.35 $3.35 n/a n/a nla 10 $3.35 $10.50 $7.15 $0.72 $1.05 20 30 40 50 60 70 $3.35 $64.40 $61.05 $0.87 $0.92 80 $3.35 $80.00 $76.65 $0.96 $1.00 90 $3.35 $135.00 . 131.65 $1.46 $1.50 a. What is Brenda's shut-down price for a dozen of eggs? Explain how you found that answer. b. If the market price of a dozen eggs at the local farmers market is $1.45 per dozen, will Brenda make an economic profit? Explain how you determined your answer. c. If the market price of a dozen eggs at the local farmers market is $1.45 per dozen, should Brenda continue producing eggs in the short-run? Explain how you determined your answer. d. If the market price of a dozen eggs at the local farmers market is 72 cents per dozen, will Brenda make an economic profit? Explain how you determined your answer. e. If the market price of a dozen eggs at the local farmers market is 72 cents per dozen, should Brenda continue producing eggs in the short-run? Explain how you determined your answer. f. If the market price of a dozen eggs at the local farmers market is 64 cents per dozen, will Brenda make an economic profit? Explain how you determined your answer. g. If the market price of a dozen eggs at the local farmers market is 64 cents per dozen, should Brenda continue producing eggs in the short-run? Explain how you determined your answer. h. If the market price of a dozen eggs at the local farmers market is 64 cents per dozen, should Brenda continue producing eggs in the short-run? Explain how you determined your