Tabitha Tingling Tomatoes (40 points). Show all work for each of the sub-questions: After remaining a housewife, Tabitha takes over her Dad's farm growing Turnips in Tompkins, Tennessee. Tabitha states that her fixed costs are $400. Whenever she hires any workers, she pays the minimum wages of $7.50/hour for a 40-hour work-week. Since Tabitha's is a price-taker, she can sell turnips at an average price of $15/crate. To help finance operating costs, Tabitha uses her savings of $50,000 which could have earned 7% had she invested in the market. Based on this data, please answer the following questions: a) Complete the table above b) Using the data, how many units would you recommend her to produce? Why? Explain. c) Based on the data given, how much are Tabitha's accounting/economic profits Why? d) Can you offer Tabitha a guiding economic "rule" to follow in decision making future? Tabitha has poor knowledge of economics but has a logical and rational mind, offer a convincing response why she should follow this rule. e) If the market price for turnips fall below S13/crate, how much should Tabitha produce at this new price? Why? What is the basis for your recommendation? Explain. Labor Quantity of Crates 0 1 2 3 4 5 a ECON 5308 7 8 0 25 55 90 130 160 180 190 185 Total fixed cost PAPER I DUE DATE: Tue, November 29, 2022 Total Total Average Average Average Marginal Marginal variable cost fixed variable total cost Revenue cost cost cost cost