TASK: A chair factory has recently opened and is trying to do a cost analysis to see how they are doing. They have found that they can run their factory as any of the following: 1 labourer making 45 chairs, 2 labourers making 160 chairs, 3 labourers making 250 chairs, 4 labourers making 330 chairs, 5 labourers making 400 chairs, 6 labourers making 450 chairs, 7 labourers making 480 chairs, or 8 labourers making 485 chairs. The factory also pays a weekly rent of $500 and pays each employee $200. a) Complete the table below. (You can use your software to do this faster) (1) (2) Labour Production (3) (4) (5) (6) Marginal Fixed Variable Total Production Costs Costs Costs (7) (8) Marginal Average Average Average Costs Fixed Variable Costs Costs Costs (9) (10) 0123 4 7 5698 b) Using technological software, graph the AFC, AVC, AC, and MC. Save your graph. Insert your Table and graph in the space below. c) At approximately what point does MC intersect with AC? What does this point represent? (2 marks, T/I) d) If each chair was sold at a price of $4.00, what would be the profit (or loss) earned by the factory? (3 marks, T/I)