4. The graph below displays the short run average variable cost (AVC), the short-rur average total cost (ATC), and the marginal cost (MC) curves of a company Y which produces a homogenous product in a perfectly competitive industry. The vertical axis shows cost while horizontal axis shows the level of output. Suppose that the equilibrium price is equal to $30. (i) Using the graph above, find the profit-maximining output of Y in the short run and marginal revente at this output. (ii) Using the graph abowe, find the total fixed onet of Y. What is the avrage fixod cost when Y produces 40 units of output? (iii) What is the profit of Y in the short-ran? (iv) Should Y :shut down in the short-run? If w, why? If not, why not? (v) What is the whutdown prion for Y? (vi) If the tutal fixod cost rises, how will profit-maxiouixing ourput of Y ' change in the short nan? liow doon an incrown in total fixod eost affect the pondit of y ?f