Bindery Express LLC. is an online business. It mostly takes

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Bindery Express LLC. is an online business. It mostly takes book… Bindery Express LLC. is an online business. It mostly takes book binding orders from its customers, shipping out the final products. It also accepts print orders used for advertisement. The first two columns of the table below report the number of machineries and number of employees that are utilized on daily basis at BE LLC. Number of MachineriesNumber of EmployeesOutputFixed CostVariable CostTotal CostAverage CostMarginal CostKLQFCVCTCATCMC3213.227.5515542.541.1–3317.2527.5600627.536.3720.983420.8627.5685712.534.1523.543524.1627.5770797.533.0125.754630.0627.5970997.533.1833.94733.2727.510551082.532.5426.484836.3427.511401167.532.1227.694939.2827.512251252.531.8928.91Note: All variables are recorded and computed on daily basis; e.g., K=3 and L=2 imply that 3 machineries and 2 employees are employed at BE LLC per day. It should also be noted that daily output (Q) is measured in number of “standardized” projects per day. Consider the information in Question No. 1. Focus on the part where only 3 machineries are in use (i.e., K=3) and between 2 and 5 employees are employed (i.e., L=2, …, L=5).Compute the daily marginal product of the 3rd employee (MPL3), the 4th employee (MPL4), and the 5th employee (MPL5). The average price of each order (P) is equal to $25.33. Compute the daily value of the marginal product of the 3rd employee (VMPL3), the 4th employee (VMPL4), and the 5th employee (VMPL5). Consider the information in part c of Question No. 1, suggesting that the daily cost of one employee (L) is $85. Provide Yes or No answers to the questions below Is it optimal for the manager to hire the 3rd employee?Is it optimal for the manager to hire the 4th employee?Is it optimal for the manager to hire the 5th employee?In one short paragraph, explain the reasoning behind your Yes or No answers Business Economics Microeconomics ECO 202

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