Hello, could you please assist me in answering the question attached. Thank you.

4 Cal's son is studying in the MBA program at UMUC. He tells his father that profit maximization occurs when Profit Maximization marginal cost (MC) = marginal revenue [MR). Cal understands that his marginal cost is the same as his variable cost, or $2.649 per gallon. Technically, marginal cost is the added cost from selling one more gallon. Gallons sold Variable Cost Daily Profit per day Price Revenue (price x gallons) Cost per Gallon (cost per unit| Fixed cost per day Total Cost (Fixed + (revenue - all Cal asks you for a chart to show how profits vary with sales volume, assuming that he sells an additional 400 x volume) Variable) costs) losing money. gallons for each 1 cent decrease in price. Also, he wants to know by how much he can lower his price without 3600 $ 2.759 4000 2.749 Given that you know the price and quantity of gallons sold so far, and that Cal's cost per gallon is $2.649 per gallon 4400 2.739 and his fixed cost is $250 per day, complete the table to the right. 4800 2.729 5200 2.719 5600 2.709 6000 2.699 6400 2.689 6800 2.679 7200 2.669 7600 2.659 8000 2.649 8400 2.639 8800 2.629 9200 2.619 5. Once you calculate total profit, what is the profit maximizing price? Answer question 5 below. 6. Next calculate marginal revenue, knowing that it is the difference between the revenue at the price shown and Marginal Revenue Marginal Cost the revenue at 1/400 of a cent less. Calculate 1/400 of a cent as well as the new price. Gallons sold Price Revenue (price x gallons) | Marginal revenue Cost per Calculate the marginal cost of selling one more gallon at each price. Prove that MC = $2.649 per day gallon Variable Cost Fixed Cost Total Cost Marginal Cost 3,600 $2.759000 Prove to Cal that MR = MC at the maximum profit. $2.649 3,601 $2.758975 $2.649 Complete the table to the right. 1000 $2.749000 4,001 4,400 $2.739000 4,401 4,800 $2.729000 4,801 5,200 $2.719000 5,201