I. lan's fixed costs are $7 per day, and his variable costs are provided in the following table. Complete the table by finding lan's total cost, average total cost, average variable costs, and his marginal costs of production. Graph average total costs, average variable costs, and marginal costs in the figure. VC TC ATC AVC MC $0.00 - o 2.00 3.50 5.50 3.00 1 1.00 15.00 21.00 29.00 39.00 a. If the market price of mowing lawn is $9 per lawn, how many lawns will lan mow? What is his profit? Show your answer graphically. b. At what price will lan just break even? c. At what price for lawn mowing will lan earn a loss but continue to produce in the short run? d. At what price for lawn mowing will lan shut down his lawn mowing services? e. Identify lan's short-run individual supply curve on your graph. f. What happen to long-run effect in perfect competition market? Please explain it graphically! Price, Cost MC $10.00 9.00 8.00 7.00 6.00 ATC 5.00 4.00 - AVC 3.00 2.00 1.00 Vo 4 8 o o 9 10 Lawns mowed