PROBLEM SOLVING. Fiil in the blanks. Show proper solution (if applicable).

A. Refer to Figure 8.8, determine the following: 31. A soybean farmer's profit-maximizing level of output is MC ATC units of output. 12 P - MR 32. If this farmer is producing the profit-maximizing level of Cost per unit output, her profit is 33. What is the total cost of producing the profit maximizing level of output? 2 34. If this farmer produces the profit maximizing level of soybeans 0 200 700 1,000 1,400 q when the market price is $8 per bushel, then her total revenue Bushels of soybeans would be Figure 8.835. If this farmer produces the profit maximizing level of soybeans when the market price is $8 per bushel, then her profit would be. B. Refer to figure 5.8, determine the following: AC 36. Profit-maximizing point = 37. Profit-maximizing output level = 38. Total Revenue at 0* = 39. Total Cost at 0* = 40. Profit = Fig 5.6. Profit Maximization Monopoly