Competition $(48$ points$)$

$\backslash$table$[[$ab$,$Total Product,Price,TFC$,$TVC$],[0,0,$$$250,$$$500,000,,$$ $0],[1,4000,$$$250,$$$500,000,$$ $960,000],[2,12000,$$$250,$$$500,000,$$$1,800,000],[3,18000,$$$250,$$$500,000,$$$3,300,000],[4,20000,$$$250,$$$500,000,$$$5,000,000],[5,21000,$$$250,$$$500,000,$$$7,350,000]]$

a$.$ Solve for total revenue $($TR$),$ marginal revenue $($MR$),$ total cost $($TC$),$ average variable cost $($AVC$),$ and marginal cost $($MC$)$ in each row, given the values above.

b$.$ What are the profit maximizing price and total product for this firm?

c$.$ State in each row, except the first where the labor is $0,$ whether this firm will choose to produce or shutdown.

d$.$ Using your responses from part c$,$ state what profit or loss the firm will earn at each total product level, except where labor is $0,$ stating how much they will earn if they shutdown if that is what you indicated they would do$,$ or how much they would earn or lose if they decided to produce, if that is what you indicated they would do at the given TP leyel.

e$.$ Provide two explanations to indicate how you know that this firm is operating in the short$-$run.

f$.$ Is this an example of pure competition or monopolistic competition? Explain.