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Quick Snacks is a retail firm located in a southern state which is popular among tourists. It is one of many firms participating in the highly competitive market for assorted nuts (shelled and unshelled). Currently the market is in equilibrium and the market price is $27. All the firms in the market (and potential entrants have the same cost structure, and the current market quantity is 39,000 pounds per month. Quick Snacks faces a monthly cost of $2,000 for its machinery and equipment. In addition, the monthly cost of labor and materials used in production is described by the equations: AVC = 0.05q + 1 and MC = 0.1q + 1. 1. What is Quick Snacks' current profit-maximizing quantity? (3 points) Complete the sentence by entering a numerical value (0.00 is acceptable) in the blank space provided. Quick Snacks' current profit maximizing quantity is pounds per month. 2. What is Quick Snacks' profit at the current profit-maximizing quantity? (6 points) Complete the sentence by entering one of the following letters or a numerical value (0.00 is acceptable) in the blank spaces provided: in the 15t blank space: A = loss / B = profit in the and blank space: a numerical value At the current profit-maximizing quantity, Quick Snacks' is earning an economic of $ per month. 3. How many firms are currently in the market? (2 points) Complete the sentence by entering a numerical value (0.00 is acceptable) in the blank space provided: Currently, there are firms in the market