Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to "Calculate," you must show how you arrived at your final answer. Use the graph provided below to answer parts (a)-(e). Price, Cost ($) 60 50 39 33 22 20 1 1 Marginal Cost 0 11 28 40 56 74 Average Total Cost Average Variable Cost Demand 98 Marginal Revenue CompAce, a profit-maximizing firm, has a patent on a computer accessory, making it the only producer of that computer accessory. The graph above shows CompAce's demand, marginal revenue, average total cost, average variable cost, and marginal cost curves. (a) Identify the quantity that maximizes CompAce's profit. Explain. (b) At the quantity identified in part (a), does CompAce earn a positive economic profit, a negative economic profit, or zero economic profit? Explain. Quantity (c) Calculate CompAce's total revenue if the firm produces the allocatively efficient quantity. Show your work. (d) At a price of $60, will CompAce continue to produce or will it shut down in the short run? Explain. (e) Assume that at 74 units, the average total cost is $62. If the total rent paid by CompAce increases by $370, calculate the firm's new average total cost at that output. Show your work.