If the market for surfboards was perfectly competitive and the market price was $150, how many surfboards should Cory make and how much profit will he make for EACH surfboard? Draw the firms demand on your graph in a. Explain how you got your answer.

Total Variable Total Cost Average Fixed Average Variable Average Total Marginal Product Costs (TVC) (TC) Cost (AFC) Cost (AVC) Cost (ATC) Cost (MC) 0 $0 $100 60 $160 100 60 160 60 90 $190 50 45 95 30 130 $230 33.3 43.3 76.7 40 180 $280 25 45 70 50 250 $350 20 50 70 70 340 $440 16.7 56.7 73.3 90 490 $590 14.3 70 84.3 150 680 $780 12.5 85 97.5 190