Use the information below to answer the following questions.
Dan's Fencing constructs paling fences. During last month, the fencing division erected 4,000 metres of fencing. The costs incurred by the division were as follows: 
-Refer to the table above. The full cost associated with constructing the 4,000 metres of fencing is:
Definitions:
Supply of Labor
The sum of hours employees are prepared and available to work at a specified rate of pay, within a certain timeframe.
Monopsony
A market condition where there is only one buyer for many sellers, giving the buyer significant control over prices and terms.
Labor Supply Curve
A graphical representation showing the relationship between the number of hours worked by individuals and the wage rate, indicating how many hours they are willing to work at a given wage.
Equilibrium Wage
The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.
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