K-Electric's costs of production as follows: Quantity Q3. Total Fixed Costs Total Variable Costs Rs. 0 Rs. 50 Rs. 70 Rs. 90 Rs. 140 Rs. 100 Rs.100 Rs. 100 Rs.100 Rs.100 Rs.100 3 4 Rs. 200 Rs.100 Rs.360 a). Calculate K-Electric's average fixed costs, average variable costs, average total costs, and marginal costs at each level of production? b) The price of per unit electricity is Rs. 50. Secing the it can't make a profit, the Chief Executive Officer (CEO) decides to SHUT DOWN the operations. What are the firm's profits / losses? Was this a wise decision? Explain. Q4. Perfect competition is considered a better choice for consumers because they get quality products on cheaper prices. Compare other market structures with perfect competition? Similarities and difference? Why imperfect competition is necessarily a bad choice for consumers, Explain with special reference to Monopoly market structure?