Answer the questions below using the cost curves for the price-taking firm shown in the following graph: a. If price is $60 per unit of output, draw the marginal revenue curve. The manager should produce ________ units to maximize profit. b. Because average total cost is $________ for this output, total cost is $________. c. The firm makes a profit of $________. d. At ________units, profit margin (or average profit) is maximized. Why is this output level different from the answer to part a? Now suppose price falls to $20. e. Draw the new marginal revenue curve. The manager should now produce ________ units to maximize profit. At this output level, average total cost is $________, average fixed cost is $________, and average variable cost is $________. f. Total revenue is now $________ and total cost is $________. The firm makes a loss of $________. g. Total variable cost is $________, leaving $________ to apply to fixed cost. h. If price falls below $________, the firm will produce zero output. Explain why. 4.2 The following graph shows demand, MR, and cost curves for a m