Can someone please complete this. I've tried this so many times but am having difficulty

Reproducible Sheets Farmer Brown Enterprises RS 7-2 You are a successful pig farmer, operating a small ducing one extra pig. It represents the increase in business known as Farmer Brown Enterprises. variable cost involved in increasing output by one The following information describes your cur- more unit of production. Average cost per unit is rent production situation. Each month, regardless the total cost of production divided by the num- of the number of pigs you produce, you must pay ber of pigs being produced. Each month you $100 to rent the farmland and barn that you use bring a quantity of pigs to market. This is a very for your enterprise. These are your only fixed competitive industry. You have no influence on costs. The only other costs that your enterprise the market price. Presently, the market price is faces are the costs of caring for and feeding the $13 for each pig. Since you cannot influence the animals. These are variable costs because they market price, these cost figures are extremely increase or decrease, depending on the quantity important to you, if you wish to maximize being produced. Marginal cost is the cost of pro- profits. Total Revenue Variable Total Average Marginal ($) Output Costs Cost Cost per Cost (price x Profit (in pigs) ($) ($) Pig ($) ($) output) ($) 100 1000.00 1 100.00 10.00 300.00 200.00 101 1010.00 1110.00 10.10 1313.00 203.00 102 1020.10 1120.10 10.20 1326.00 205.90 103 1030.30 104 1040.60 105 1051.00 106 1061.50 107 1072.10 108 082.80 109 1093.60 110 1104.50 111 1 115.50 1 12 126.70 113 1 138.10 114 1149.70 115 1 161.50 116 1 173.50 117 1 185.70 Continued @Oxford University Press (Canada]Reproducible Sheets Farmer Brown Enterprises (continued) RS 7-2 4. Using the graph provided, carefully plot the marginal cost curve, the average cost curve, and the mar- ginal revenue curve for your enterprise. Marginal revenue is the extra revenue received by selling one extra pig. It is not included as a statistical column because, in your enterprise, marginal revenue is constant at $13, the market price per pig. Note that with each additional pig you sell, total revenue increases by $13. Compare the curvature of the three curves that you have constructed. 5. Study your graph carefully. What relationship exists between marginal cost and marginal revenue at the production level where your profits are maximized? Explain in your own words what you have learned about the most profitable level of output for any firm. 6. What would happen to your profit picture if average total costs per unit increased by $3.00? For example, if average costs were $10.95, they have now increased to $13.95. Draw a new average cost curve (AC2) on your graph to show this change. Explain the decision that you would make if your average costs changed this much. Marginal Profits are maximized cost per by producing that level unit of output (120 units) at which marginal cost equals marginal revenue Price ($ per pig) 13 Marginal revenue per unit At outputs below 120 units, At outputs above 120 units, marginal marginal revenue exceeds cost exceeds marginal revenue, marginal cost, making it making it unprofitable to increase profitable to increase production production 80 100 120 140 160 180 200 Output (in pigs) Using marginal cost and marginal revenue to determine output for Farmer Brown Enterprises. Oxford University Press (Canada) 2009, PermisReproducible Sheets Farmer Brown Enterprises (continued) RS 7-2 Total Revenue Variable Total Average Marginal ($) Output Costs Cost Cost per Cost (price X Profit (in pigs) ($) ($) Pig ($) ($) output) ($) 118 1198.10 119 1210.70 120 1223.50 121 1236.50 122 1249.80 123 1263.40 124 1277.30 125 1291.50 126 1306.00 127 1320.80 128 1335.90 129 1351.30 130 1367.00 Questions 1. Study the completed portion of this table to better understand the relationship that exists between these different cost calculations. 2. Use a calculator to complete the remaining portion of the table. In order to maximize profits, how many pigs should you bring to market this month? Why would it not be worth your while to bring one additional pig to market beyond this point? 3. Why would it not be wise to bring 110 pigs to market this month? Why would it not be wise to bring 130 pigs to market this month? Oxford University Press (Canada) 2003. Per