Here is the cost information for a typical shoe store in a perfectly competitive industry.

1 . Here is the cost information for a typical shoe store in a perfectly competitive industry. Output/ Total Total Total AFC AVC ATC MC Month Fixed Variable Cost, Q Cost Cost TC 0 50 1 50 95 12 50 150 3 50 195 14 50 240 5 50 290 6 50 360 50 490 8 50 672 a ) Complete the table for the average fixed cost (AFC) , average variable cost (AVC) , average total cost (ATC) , and marginal cost (MC) . b ) At what market price will this firm shut down in the short run? How much are the profits or losses at this point? c) If the current market price is $75.00, determine what output, Q, this firm should produce in order to maximize profits? Calculate the profits or losses that this firm would earn. d) If the current market price is $65.00, determine what output, Q, this firm should produce order to maximize profits? And, calculate the profits or losses that this firm would earn. e ) If the current market price is $55.00, determine what output, Q, this firm should produce in order to maximize profits? And, calculate the profits or losses that this firm would earn.f) If the current market price is $135.00, determine what output, Q, this firm should produce order to maximize profits? And, calculate the profits or losses that this firm would earn. g ) If the current market price is $185.00, determine what output, Q, this firm should produce in order to maximize profits? And, calculate the profits or losses that this firm would earn. h ) Completed the table for the supply curve for one firm, industry supply curve for 10 firms, and an industry supply for 50 firms. Market price Firm's Industry Industry quantity supply (10 supply (50 supplied firms) firms) $55 $65 $75 $135 $185 i ) If the current price in the market with ten firms was $75 in the short run, explain what the output, price and profit is for a typical firm, and how the number of firms, price and profit will change in the long run