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I just add the missing information.here is the complete exercise can you help me sove it accurately Exercise 6: Costs & Competition Name: Problem 6.5.

I just add the missing information.here is the complete exercise can you help me sove it accurately

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Exercise 6: Costs & Competition Name: Problem 6.5. Three painting companies compete in a local market. For each firm, the table below lists four output-marginal-cost pairs. For instance, if Vanilla Sky paints 10 rooms per week, its marginal cost is $20 per room. Vanilla Sky, Chocolate Stripe, and Strawberry Frost are the only three firms painting interiors in this market. ($/room) Marginal Vanilla Chocolate Strawberry Industry 100 Cost Sky Stripe Frost Total 90 ($/room) (rooms/week) (rooms/week) (rooms/week) (rooms/week) 80 70 20 10 10 10 60 40 14 17 19 50 60 18 24 28 80 22 31 37 10 2 30 40 60 To 80 90Painting (rooms/week) (a) Fill in the last column with the industry output (i.e., the total number of rooms painted per week) at each marginal cost. (b) On the basis of the table, plot four points on the industry marginal cost curve. Connect the dots to illustrate the industry marginal cost curve. Problem 6.6. The two graphs below illustrate the market for rice (on the left) and the cost curves of Rice Right, a typical rice farm (on the right). (S/ton) Supply ($/ton) Supply 400 400 350 350 300 300 250 250 200 200 150 150 100 100 Demand Demand 50 50 100 200 300 400 500 600 700 Rice 600 700 Rice (mil. tons/year) (mil. tons/year) Measure Units Initial SR IR LR $/ton mil. tons/year tons/year pos., neg., 0 (a) Mark the initial equilibrium (i.e., as drawn) in the market graph with the letter A. Add any relevant information from the market equilibrium to the right graph, and mark the point that defines Rice Right's quantity supplied with the letter a. Fill in the Initial column with the equilibrium values 2 of price p and market quantity Q and Rice Right's profit-maximizing quantity q; also indicate whether Rice Right's profit a is positive, negative, or zero

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