Suppose I sell apples in a highly competitive market at a price of $5 each. My total cost per apple is $3 each which my total fixed cost is $20. a. How much do you recommend I spend on marketing and advertising based on the information above? b. If I produce 225 apples, what do you estimate my profit to be? c. What is the approximate elasticity if the amount demanded is 225 this month but only 200 last month when prices were at $6