Production Function Project Background Jacked Jackets, Inc. is a successful small business that has purchased a new location for their operations. While it is cost-effective, they are limited to 500 square-footage at the new production facility. As their name suggests, they sew jackets, and they buy materials for these items in bulk as needed. Each worker they hire costs $25 per hour. The company rents a single machine for $40 per day at each location. Using the first location as quantitative reference, the following output parameters exist for these workers: W2 Labor Daily Output 0 0 1 5 2 10 3 11 4 14 15 Assignment In Excel, assemble a table calculating the following costs: Average fixed cost Average variable cost Average total cost . . . . . Marginal Cost Marginal Product Value of Marginal Product Create charts for both the production function and the total cost curve. Using Excel analytics, how many workers should Jacked Jackets hire? Explain your answer. What unspecified factors play a role in this as well? You should also note that Jacked Jackets typically sell for a net price of $100 per jacket. Also assume the workers on an 8-hour wage schedule. Given this new knowledge, does this impact your previous recommendation