Can you please help me understand the following questions. Thank you,

1. In what ways is the following business perfectly competitive? It was ways is it not? Mary sets up her food truck specializing in Armenian food at a lot where there are many other food trucks. It cost her $3000 to set up this business. She learns from the other food trucks that their prots are much less than in the past. 2. George wants to set up a business on the intemet. He paid a consultant $1000 to create good web pages and it is ready to go. Now he learns that the business may not be as protable as he originally thought. He asks for your advice saying, "I've already put $1000 into the business, so I don't want to give up." What do you tell him based on your study of costs in this section of the course? 3. Complete a table for Q. FC. VC, TC, MC, Price, TR and Prot using reasonable numbers for a perfectly competitive rm. For price, use a number equal to the number of letters in your rst and last name {maximum 20}. ForQ use 0, 1, 2, 3, 4, 5, 6, 7, B For MC use $4, 5, 6, 8, 10, 13, 16, 20. For FC. VC. TC and MC use reasonable numbers. You may need to adjust them so that you will have a prot but make certain that PC, VC. TC and MC correspond to one another. TR and Prot will be calculated based on your selected price and costs