1. Naoimi's firm produces skateboards in a perfectly competitive market. The table below shows Naomi's total variable cost. She has a fixed cost of $240, and the price per Skateboard is $60. Quantity Total Variable Cost 6 $120 25 7 $145 20 8 $165 9 $220 70 10 $290 11 $390 a. Calculate the average total cost of producing six skateboards. Show your work. ATC = b. Calculate the marginal cost of producing the eleventh skateboard. MC = c. What is Naomi's profit-maximizing quantity? Using marginal analysis, explain your answer. d. At the profit-maximizing quantity from part (c), calculate Naomi's profit or loss. Show your work. e. Naomi also produces longboards at a loss in a perfectly competitive market. Draw a graph that is correctly labeled for Naomi's firm that shows the following at a market price of $200. i. Naomi's profit-maximizing quantity of longboards ii. Naomi's loss, completely shaded