Unit 3u: Novel Medi x | 50 powerful example x | Karen Chu shared til X English 12 Student X | |novel me nt/894341/View Assignment: Profit Maximization Under Perfect Competition The Output, Revenue and Cost data in the table below applies to a hypothetical market gardening firm supplying produce to a local Farmer's Market. Profit-Maximization Table for a Market Gardener P ($ per Q (kg per MR ($ per MC ($ per AC ($ per Profit/Loss kg) month) TR ($) TC ($) kg) kg) kg) ($) 0 $0 $18 -$18 $0.48 $0.23 $0.48 100 $48 $41 $0.41 $7.00 $ $ 200 $96 $57 $ 300 $144 $77 $ 400 $192 $106 $ 60 S FFUnit Su: Novel Medi X 6 50 powerful example X @ Karen Chu shared thy X English 12 Student F X novel 894341/View $0.48 100 $48 $41 $0.41 $7.00 200 $96 $57 $ 300 $144 $77 EA $ $ 400 $192 $106 CA EA $ 500 $240 $145 $ $ $ $288 $199 $ $ S 700 $336 $294 EA $ 800 $384 $501 $ 1. Complete the Table. To help you start, the first row is done for you in red. (5) 2. Show how you know this firm is operating in a perfectly competitive market. (5) 3. Determine the firm's profit-maximizing output (to the nearest 100 kg) using both the TR-TC and94341/View 400 $192 $106 $ 500 $240 $145 $ $ 600 $288 $199 $ $ 700 $336 $294 $ $ 800 $384 $501 1. Complete the Table. To help you start, the first row is done for you in red. (5) 2. Show how you know this firm is operating in a perfectly competitive market. (5) 3. Determine the firm's profit-maximizing output (to the nearest 100 kg) using both the TR-TC and MR-MC methods. (Be sure to show your calculations, not just the answers) (10) 4. Now solve the profit-maximizing output problem graphically using both methods. (10) Submit this assignment to the dropbox. This assignment will be evaluated for a grade that will contribute to your overall final grade in this course. tfolio Print e AOC1. Profit-Maximization Table for a Market Gardener P ($ Q (kg per TR($) TC($) MR ($ MC ($ AC ($ Profit/Loss per kg) month) per kg) per kg) per kg) ($) 0 $0 $18 -$18 $0.48 $0 23 $0.48 100 $48 $41 $0.41 $7 $0.48 $0 16 $0. 48 200 $96 $57 $0.285 $39 $0.48 $0.2 $0.48 300 $144 $77 $0.2566 $67 $0.48 $0.29 $0.48 400 $192 $106 $0.265 $86 $0.48 $0.39 $0.48 500 $240 $145 $0 29 $95 $0.48 $0.54 $0.48 600 $288 $199 $0. 33166 $89 $0 48 $0.95 $0.48 700 $336 $294 $0.42 $42