I need some help with these practice problems, I haven't been able to understand them as well as some others. Any help would be greatly appreciated!

3. (04.05 Hc) The good Luxurum has no close substitutes and is only supplied by two companies, Gamma Enterprises and Delta Depot. They are considering whether to offer Luxurum in different colors or keep the original single color of its material. The following payoff matrix shows their estimated profits. Delta Depot Multlple Colors One Color Gamma Enterprlses Multiple Colors $90, $95 $25, $115 One Color 3105, $65 $60, $55 . What should Gamma Enterprises do If Delta Depot chooses to offer multiple colors? Explain using the figures from the payoff matrix. . Does Delta Depot have a dominant strategy to offer multiple colors. keep the single color, or no dominant strategy? . Assuming no cooperation, what will the profit be for each firm? . The cost of the materials needed to offer other colors goes up by $20. Draw a new payoff matrix reflecting the change. . Assuming no cooperation, what will the profit be for each firm after the cost indease? 00,039] per unit. Terminus sells fencing in a perfectly competitive market. Below are its short-run total variable costs at different output levels. The firm's fixed cost is $20. The fencing sells at $12 Units Total Variable Cost 0 $0 1 $10 $18 3 $26 4 $36 5 $50 6 $70 a. What is the average total cost of the 6th unit of fencing? b. What is the first unit of output where diminishing marginal returns have begun? c. What economic profit or loss would Terminus earn at its profit maximum? Show your work. d. Would Terminus operate in the short run? Explain. e. Would Terminus stay in the market in the long run? Explain.MC $10 ATC AVC Price $6 $4 $2 10 14 15 18 22 Quantity Assume that the firm above operates in a perfectly competitive market. a. What will this firm's total revenue be if the market price is $4? b. Assume the market is in short-run equilibrium and this firm is earning normal profits. What must be the market price? c. If the short-run market price is $6, will the firm produce or shut down? d. How would the price from part (c) move to the long-run equilibrium price level? Explain. e. If the government instituted a lump-sum tax, which of the curves above would move, if any