Thanks for the help.

OUTPUT TOTAL COST OUI A W N - O 30 39 47 54 60 67 75 Part 1: The TVC of producing 4 units of output is Number Part 2: The AFC of producing 6 units of output is: Number Part 3: The marginal cost of producing the fifth unit of output is: Number Part 4: The ATC of producing 5 units of output is: NumberIn a perfectly competitive market: the market price is 20 Marginal cost (MC) = 2(0) + 4 average total cost at equilibrium is 20, and average variable cost at equilibrium is 5 Part 1:The profit maximizing price is Part 2: The profit maximizing quantity is Part 3: Total revenue is Part 4: Total cost is Part 5: Average fixed cost is Part 6: Total fixed cost is Part 7: Total profit/loss is Part a: Marginal revenue is Part 9: At this market price, would firms 1. Enter the industry 2. leave the industry 3. There is no incentive to enter or leave the industry. (assume all firms have the same cost structure) Part 10: At the market price, could this be a long run equilibrium price? (if yes=1, nc=2) (assume all firms have the same cost structure) A firm in a perfectly competitive industry knows the following about its costs and revenue. The firm would like to maximize profit and has hired a consultant for advice. Price Q of Output Total Revenue Total Cost Total Fixed Cost 9 1,200 TR? TC? 2,600 Total Variable Cost Average Total Cost Average Variable Cost MC 6,800 ATC? AVC? 7 Part 1. Total Revenue Number Part 2. Total Cost Number Part 3: Average Total Cost Number Part 4. Average Variable Cost Number Part 5. What is the value of the profit or loss (-) at the current output ( include the - sign if it's a loss) Number Part 6. Consultant's Advice: As a consultant, what advice would you give to this firm:(Choose ONE answer from the following) **worth 5 marks Number 1. Firm should do nothing; it is already profit maximizing/loss minimizing 2. Firm should reduce quantity of output 3. Firm should increase quantity of output 4. Firm should shutdown operations 5. The given number set is inconsistent