3. Demonstrate diagrammatically and/or numerically TOTAL FIXED COST TOTAL VARIABLE COST MARGINAL COST AVERAGE FIXED COST AVERAGE TOTAL COST AVERAGE VARIABLE COST Output (Q) Total Revenue S0 Total Cost S100 190 270 131 2 262 393 3. 340 400 470 4. 524 655 6. 786 550 7 917 1048 1179 640 750 880 1030 10 1310 The above data represents the typical firm under perfectly competitive market conditions. Demonstrate, in detail, the profit maximizing and/or loss minimizing output.