Assignment 3 Group Total Marks 30 Q4 You are given the following cost and revenue information for Cindy's Candles, a perfectly competitive firm at its current level of output. (6 Marks) AFC = 4 ATC = 10 TVC = 600 MC = 10 TR = 1,200 a) What is the amount of profit or loss? b) Is the firm producing at its optimal level? If not, should it increase or decrease output