6 of 17 Refer to the figure below. If the firm is producing the level of output that maximizes profit, its total variable cost of production is (Hint: after finding the profit-maximizing point, you are looking for an area created by the average variable cost curve) Price ($) 18 16 MC1 14 12 10 ATC: 8 6 AVC1 4 a 2 MR Di 10 20 30 40 50 60 70 80 90 Quantity $240 $360 $420 S160