Refer to the hypothetical problem and the instructions below. Make graphs. Do as indicated.

- There are 2 blank graphing papers that you may use to draw the curves required. The scales were already done for you. . For graphing paper #1 Y axis = total fixed cost (TFC), total variable cost (TVC), and total cost (TC) X axis = output For graphing paper #2 Y axis = average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and marginal cost X axis = outputHypothetical problem A com farmer produces 300 sacks of corn at 50 gas/sack. Prevailing price of corn/sack is P1,200. He Incurred the following annual expenses (P): Fixed costs: land rent (05,000; Irrigation fee@3,000; warehouse @2500; Insurance @3,000; Interest on loan @4,200; entrepreneuship@7,000; salaries/wages@ 10,000; taxes@4,600; depreciation@2,600 Variable costs: seeds@5,000; fertilizer@10,500: Iabor@18,000; pesticides@8,000; tractor@3,000; transportation,@3,500