4. How a change in fixed costs affects the profit-maximizing quantity Deborah owns and operates a hot dog stand in downtown Miami. In order to operate her hot dog stand, regardless of the number of hot dogs sold, Deborah must purchase a permit from the local government in Miami. Deborah's initial prot hill is plotted in green (triangle symbols) on the following graph. Suppose the price Deborah must pay for a permit increases by $60 per day. On the following graph, use the purple diamond symbols to plot Deborah '5 new prot hill, for 0, 10, 20, 30, 40, 50, 60, and 70 hot dogs, after the increase in the price of a permit ( with all other factors remaining constant). Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. 400 350 . 300 New Prot Hill 250 200 150 A 100 A 50 A Initial Prot Hill 0 A TOTAL PROFIT (Dollars per clay) -100 -150 -200 0 10 20 30 40 50 60 70 8!] QUANTITY (Hot dogs per day) Based on the graph, you can tell that Deborah initially faces a fixed cost of $ V per day. Initially, Deborah's prot-maximizing level of output is V hot dogs per day. After the price of a permit rises, Deborah's profit-maximizing level of output is V hot dogs per day