a) Fill out the values for ATC, then graph the ATC on the graph above. b) Assume the price determined by the market is $4. Graph the MR curve on the graph above. c) What is the profit maximizing level of output for the firm? d) is the firm making a profit, or taking a loss? What is the size of the loss/profit? Shade in the area of the loss/profit on the graph. e) What will happen in the market in the long run? What will the new equilibrium price be? What will the new profit maximizing level of output be? Will the firm be making a profit or a loss?Use the following information about a single firm in a perfectly competitive market to answer this question. TC ATC marginal cost 450 $2,925 $7.00 Cost E $6.00 D 550 $5.00 $3,025 $4.00 C B $3.00 650 $3,250 A $2.00 $1.00 750 $4,125 $0.00 0 450 550 650 750 850 850 $5,100 Quantity a) Fill out the values for ATC, then graph the ATC on the graph above