(a) The following table illustrates the output of a perfect competition firm that produces socks. Labour Machine Total Marginal Total Cost Marginal Product Product Cost O 0 500 20 20 600 5 2 50 750 3 3 170 950 2 4 265 95 UI 345 80 2,320(i) Calculate the missing variables in the table above, Show all working and label each variable correctly, (4 marks) (ii) Find the value of the total xed cost incurred by the rm. (2 marks) (iii) Explain if the rm faces the law of diminishing marginal returns lm production. Justify your answer using information om the table. (2 marks) (iv) State the characteristics of the perfect competition market structure that the rm operates in. (3 marks) (v) If the firm sells each pair of socks for $6, calculate the optimal output and profit of the firm, (4 marks)