Part B- Perfect Competition Q. 4 Consider a firm in a perfectly competitive industry. The firm has just built a plant that cost $15,000. Each unit of output requires $5 worth of materials. Each worker costs $3 per hour. a) Based on the information above, fill in the table below: Number Output Total Total Total Marginal Average Average of (Q) Fixed Variable Cost Cost Variable Total Worker Cost Cost (TC) (MC) Cost Cost Hours (TFC (TVC) (AVC) (ATC) 0 0 25 100 50 150 75 175 100 195 125 205 150 210 175 212 b) If the market price is $12.50, how many units of output will the firm produce? c) At that price, what is the firm's profit or loss? Will the firm continue to produce in the + run? Carefully explain your