Question: hello!! How do i find part a for total cost, part b, c, d, e and f? Thank you so much! Question 3 {15 marks}
hello!! How do i find part a for total cost, part b, c, d, e and f? Thank you so much!

Question 3 {15 marks} The following table illustrates the output, cost and revenue figures of a perfect competition a} Fill in the following blanks in the table above. Show all relevant working. [4 marks] b] Identir the period of production that the rm is in. Explain your answer. [2 marks] c} Modify the worker that causes the law of diminishing marginal returns to set in. [2 marks] d] Use the prot maximising condition to identify the optimal output of the fhm and calculate the prot. [4 marks] e} Based on your answer to part d, explain how the prot will change in the long run. Use relevant graphs to aid in the explanation of your answer. ['1' marks] f) If all rms in this market merge to form one rm, predict the effect on market equilibrium price, output and consumer surplus. [5 marks]
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