Question A. What is firm A's profit-maximizing level of output if market price is set at $15.00?_____QB. Firm A's total profit if market price is set at $20? $_____Question C. Firm A's Average Fixed Cost at 150 units outputs is $_____D. Firm A's Total Cost at 300 units of output is: $_____

2. Graph 1 shows costs, price ($0 to $50), and quantity of socks (0 to 500) for firm A which is a price taker operating in a perfectly competitive market. (3 points each) Graph 1 COST ( Cents per pair of socks) 50 40 MC 35 135 30 30 23 25 25 25 ATC 20.7 20 AVC 20 20.1 20 15 SR 10 13.5 10 10.5 5 0 50 100 150 200 250 300 350 400 450 500 QUANTITY [Thousands of pairs of socks] a. What is firm A's profit-maximizing level of output if market price is set at $15.00