Joe's Widget Factory operates in a perfectly competitive industry. Joe's fixed and variable costs are given in the table below. He is a price taker and can sell as many widgets as he produces for $10 each. Complete the table using the provided link and respond to the following questions. Besides referring to your table to support your answers, include references from the course materials on profit-maximizing rules for competitive firms.

• What is the profit maximizing (or loss minimizing) level of output in the short run?
• What is the profit maximizing level of output in the long run?
• What are the shut-down prices in the short run and long run?
• What is the firm's supply curve?

AT&T 1:48 AM 1 83% Z USW1_ECON_1002_Week03_assignmentWorksheet 3 AD 0 Q . . . Week 3 Assignment Worksheet Complete the following table. Be sure to copy/paste your completed table into your Assignment submission. Widgets Fixed Variable Total Average Average Marginal Price Profits Produced Costs Costs Costs Variable Total Cost = MR Cost Cost CD CO V ON UI A W N - 25 10 25 8 10 25 10 25 23 10 10 10 10 10 10 10 2019 Laureate Education, Inc. Page 1 of 1