C is the priority

Exhibit 9-10 Output (Q) Price Total Total Cost Profit Revenue 0 $60 SO $60 50 $60 110 w $60 180 $60 260 $60 360 4. Consider Exhibit 9-10 for a perfectly competitive firm. Please answer questions 4 a through 4 d below. 4a. In the table titled "Total Revenue" in Exhibit 9-10, for each level of output, please fill in the blanks by calculating total revenue. 4 b. Create three new tables and label one table, "Profit", the next table "Marginal Revenue", and, finally, a table for "Marginal cost." For each level of output, fill in each table by calculating profit, marginal revenue, and marginal cost. Please show the calculations and work for marginal revenue. and marginal cost in the three tables you just created. 4c. Please graph the marginal cost curve and marginal revenue/demand curves and put "Price, Marginal Revenue and Marginal Cost" on the y-axis and Quantity on the x-axis. Make sure you label your graphs and axis accurately. Looking at the graph you just drew on your graph paper and looking at the profit table and the marginal revenue and marginal cost calculations and tables you just calculated in question 4b, at what quantity should the firm produce and what quantity shows where profits are maximized? Why? Explain your answer. 4d. If we produce 1 unit of output, is Marginal Revenue greater than or less than marginal cost? What should the firm do to get to the profit maximizing level of output, produce more output or less output? Why? If we produce 4 units of output, is Marginal Revenue greater than or less than marginal cost? Why? What should the firm do to get to the profit maximizing level of output, produce more output or less output? Explain your answers