i have the question as the following, we were given the answers which i will include i just need explaination on how did we get these answers.

i have submitted this question before and all the answers were wrong.

The market for organic tomato is competitive. Table 1 below presents the price and demand schedule for tomato in the market. Table 1. Price and demand for organic tomatoes Price of organic tomato (per 100g) Quantity demanded $3 2000 $4 1600 $5 1000 $6 700 $7 420 $8 100 $9 0 Each organic tomato farmer in the market has a fixed cost of $100 and the following marginal cost which is shown in Table 2 below. Table 2. Quantity of tomatoes and marginal cost Quantity of organic tomatoes Marginal cost Total Cost Average Total Cost $0 20 $7.5 40 $5.5 60 $6 80 $9 100 $12 i. Referring to Table 1 above, calculate the price elasticity of demand for organic tomatoes when its price increases from $4 per kg to $7 per kg. Interpret the value of elasticity. ii. Referring to Table 2 above, complete the producer's total cost and average total cost in Table 2 above. iii. Assume that the price of organic tomatoes is $7 per kg. How many organic tomatoes should each farmer sell? How many farmers are there? How much profit does each farmer gain? iv . Suppose in the long-run, the price of organic tomato drops from $7 to $6. Is it still profitable for the farmer to stay in the business? If not, why? Explain your answers.SHORT ANSWERS: QUESTION A1: i . Mid-point price elasticity of demand = -2.142 (Elastic) ii. aty of organiz mc 7 TC ATC tomatoes. C # 100 10 .5 20 $ 7.50 $ 250 0,65 $ 12.50 0.65 40 $ 5.50 $ 360 (0.65) $ 9 0.65 60 $ 6 $ 480 ( 0.6.5 # 8 (0.65 80 $ 9 $ 660(0.65 $ 8.25 (0.65 100 $ 12 $ 90010.65) 0.65