A perfectly competitive firm has xed costs of $30 and total costs as indicated in the table below. Total Total Average Average Average M a In al Fixed 1liarlai'ile Total Coat Fixed Variable Total erg t cast Coat cast 3 --m---- a) Fill in the missing values in the table. b) Graph total xed cost, total variable cost. and total cost. {Be sure to understand what is behind the shape of each of the curves.) c) Graph AFC, AVG, ATC, and MC. Mark the two key points as discussed in class. Explain in your own words why the MC curve intersects both the AVG and ATC curves at their minimums. d) What will happen to the AVG, ATC. and MC if the fixed cost increases by 40. c) How much will the firm produce if the market price that it faces is '36 13 .5. Will the firm make profits or losses? How much? f) Answer the questions in part (e) if the price was $8.5. g) Answer the questions in part (e) if the price was $6