2. Tom is a corn farmer in Texas. The expected corm yiclds in his farm at various irrigation. levels are presented in the following table. [No need to find the equation; use the irrigation and yield data from the table directly]. The fixed cost (all costs other than imigation) for Tom is $640 /acre. The cost of irrigation is $20 /inch. Price of com is $5.50 bushel. Use this information to answer the following auestions (60 nninfe) ". 24 mu une olanks (1C, 1K,MR, and MC) b. What is the profit maximizing irrigation level? c. What is the profit maximizing irrigation level if the com price went down to 54.50bushel (cost of irrigation remains at $20 inch)? d. What is the profit maximizing imigation level if the cost of irrigation is $10.00 inch (com price remains at $5.50 bushel)? e. Now fill in the blanks of the following table (MVP MIC approach) and find the profit maximizing imrigation (cost of irrigation: $20 inch and corn price: $5.50 bushel). \begin{tabular}{|l|l|l|l|l|} \hline Irrigation (inches) & Yield (Bu/acre) & MPP & MVP & MIC \\ \hline 0 & 40 & & & \\ \hline 4 & 95 & & & \\ \hline 8 & 142 & & & \\ \hline 12 & 180 & & & \\ \hline 16 & 210 & & & \\ \hline 20 & 230 & & & \\ \hline 24 & 242 & & & \\ \hline 28 & 245 & & & \\ \hline 32 & 234 & & & \\ \hline 36 & 220 & & & \\ \hline 40 & 200 & & & \\ \hline \end{tabular}