Question: Suppose that the following table represents the cost structure of an apple farmer. The current market price for apples is 4 Review the Formula

Suppose that the following table represents the cost structure of an apple farmer. The current market price for apples is 4 Review the "Formula Refresher" worksheet for forumlae and hints. QI. Fill in the missing values in following table. Make sure to use the "formula" feature. (AVC) . Assusme that this firm is in a perfectly competitive market structure. (ATCI o 10 20 30 40 50 60 400.00 500.00 580.00 700.00 850.00 $ 1,030.00 $ 1,250.00 18.00 18.00 18.00 18.00 18.00 18.00 18.00 382.00 482.00 562.00 682.00 832.00 1,012.00 1,232.00 10.00 8.00 12.00 15.00 18.00 22.00 1.80 0.90 0.60 0.45 0.36 0.30 48.20 28.10 22.73 20.80 20.24 20.53 50.00 29.00 23.33 21.25 20.60 20.83 IMRI 18.00 Q2. Use the Excel's chart feature to graph MC, AFC, AVC, and ATC. In addition, graph the MR curve. Remember that those costs and MR are on the Y-axis and quantity is on the X-axis. 40 Q3. What is the profit-maximizing price and quantity for this firm? $ 18.00 42 Quantitv (Q*) Q4. Calculate the profit (or loss) for this firm. profit/loss (130.00)

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