1. Suppose you supply good X for sale, which requires a building and a machine that makes good X. You rent a building for $30,000 per month and rent a machine for $20,000 a month. Those are your fixed costs. The variable cost per month is given in the table below: (15 points total) Quantity of VC MC of AVC of Goo ATC of Good X N/A N/A 1,000 6.000 2,000 8.000 3,000 9.000 4,000 14.000 5,000 20.000 6,000 33.000 7,000 49.000 8,000 72 000 9,000 99.000 10,000 150.000 a) Use blank spaces in the table above to calculate your average variable cost, average total cost, and marginal cost for each quantity of output. (0.2 for each correct cost value - 6 points total) There is free entry into this market, and anyone who enters will face the same costs as you do. Suppos that currently the price of one unit of good X is $25. b) What will your profit be? $ (3 points) (3 points) ) Is the $25 a long-run equilibrium price? If not, what will the price of good X be in the long run? d) Assume that good X production is a perfectly competitive market. What is your break-even price (Where economic profit = $0)? Briefly explain. (3 points) t Predictions: On My Accessibility; Investigate