a. Given the rise in costs due to Hedgerot Disease, you tell your staff that they need to trim hedge costs. First, they estimate the following costs for your firm. Fill in the missing columns in the table. (Note: MC, AFC, AVC, and ATC are not defined for Q = 0.) Should you calculate MC as the change in TC, change in FC, or change in VC? Why? (Try all three to see what happens.) TC FC VC MC AFC AVC ATC 50 50.5 HAWN-OC 52 54.5 58 62.5 68 74.5 82 90.5 10 100 11 110.5 12 122 13 134.5 14 148 15 162.5 b. The actual formula for TC used to generate the numbers above is TC = 50 + 0.5.Q3. MC = dTC/dQ, in calculus terms, so MC = Q for this TC. Derive the formulas for the other curves. [Why do some numbers in your table not match what you would get using your formulas? Because the numbers in the tables are approximations based on integer changes in Q, while the formulas use calculus - infinitesimally small changes in Q. Don't worry about such approximation issues in practice.] C. Looking at your answers in the table, over what range of output does your firm have economies of scale in the long run? In the short run? d. At what price would your firm shut down production in the long run? In the short run? Derive algebraically the Q at which your firm has minimum ATC