A12345678910111213141516171819202140Bс1Assuming a firm has this short-run production data below, do the following:a. fill-in the rest of the tablePhp2,000Php700Fixed Input (K) Variable Input (L) TP (Q)L017171Dhurial unite011b. calculate the profit at price = 68.50 pesos and at price = 47.10 pesos.c. draw two conclusions (when the price is 68.50 pesos and when the price is 47.10 pesos)d. answer the question at the very bottom.2234D56789393771106134147156156154EC↓ 31₁MP₁17223235F281390-2AP₁Gfx Enter text or formula here8TFCAssignment-PRODUCTION-4HTVCMonntanismounteIShort run Production RelationshipsJTCMCKAFCLAVCMATCNOTR=Q*PAOP@Price per unit = 68.50 pesosTRTC ProfitQQTC=Q ATCR:SProfit = TR-TC@Price per unit=47.10 pesosTRTCProfit: 20212223242526272829303132333435363738394041424344BPhysical unitsсConclusion 1: If the price is9Dunits of labor producing154UObjective of the Firm: maximize profit.Maximizing profit condition/Minimizing Loss Condition: MR = Price = MCELaw of diminishing marginal productivity = as more units of labor is added to a fixedunit of capital, its marginal productivity decreases.-2Conclusion 2: On the other hand, if the price isunits of labor producing,FGpesos in the market, the firm should be employingunits of output, yielding a3fx Enter text or formula hereC↓Monetary amountsHofIJpesos in the market, the firm should be employing units of Capital andunits of output, yielding aofpesos.e !units of Capital andQuestion:Is profit/loss really maximized/minimzed at MR = P = MC? (Answer with a "yes" or "no" based on what you have calculated)pesos.KLMNOPORS:

MPL=∆TP∆LAPL =TPLTFC = Php2000 x KTVC = Php 700 x LTC = TFC + TVCMC = ∆TC∆QAFC = TFCQAVC = TVCQATC…

Assuming a firm has this short-run production data below, do the following: a. fill-in the rest of the table b. calculate the profit at price = 68.50 pesos and at price = 47.10 pesos c. draw two conclusions (when the price is 68.50 pesos and when the price is 47.10 pesos) d. answer the question at the very bottom. Php2,000 Php 700 Fixed Input (K) Variable Input (L) TP (Q) 1 0 17 39 3 1 1 Dhurial unite 0 1 L 2 3 6 7 8 9 71 106 134 147 156 156 154 MP₁ 17 22 32 35 28 13 9 0 -2 AP₁ TFC Short run Production Relationships TVC Manntani macinte TC MC AFC AVC ATC TR= Q P @Price per unit = 68.50 pesos TR TC Profit TC = Q ATC Profit= TR-TC @Price per unit=47.10 pesos TR TC Profit