On the second graph on page 3, plot Olivers MR=D, MC, AFC, AVC, and ATC curves. (Scale the horizontal axis in 10-bag increments and the vertical axis in $0.50 increments.) Please note that the first AFC value and the first ATC value will not fit on the graph. Label each curve.

a) Identify clearly the profit-maximizing level of output on this graph. Why is this the profit-maximizing output?

b) If Oliver is producing the profit-maximizing output, how could you calculate his TR (total revenue) from this graph?

c) How could you calculate Olivers TC (total cost) from this graph?

d) How do you find the profit per unit from this graph?

e) How do you find the total profit from this graph?