Question: I need the explanation and answer for a) part two please $) Price, Marginal Average Costs 80 70 60 50 40 30 20 10 20

I need the explanation and answer for a) part two please

I need the explanation and answer for a) part two please $)

$) Price, Marginal Average Costs 80 70 60 50 40 30 20 10 20 40 60 80 100 120 140 160 180 Quantity (units per week) OF SETTINGS React PROFIT CALCULATIONS Haignal Revenue (HR) $30.00 Market Price ($20-70) 30.00 Marginal Cost ( HC ) $30.16 Total Revenue $1,950.00 Quantity (30-140) 65 Total Cost $2,677.35 Economic Profit ($727.35) 30 Fixed Costs = $2,666.67 Instructions: Type a price (between $20 and $70) Into the Market Price box. Then, type a quantity (30-140) Into the Quantity box. or use the slider to adjust the quantity. The tool will calculate the MR. MC, total revenue, total cost, and economic profit from producing that quantity and selling at the market price. Click 'Show Profit Loss' above the graph to have the tool shade the firm's economic profits or losses. a. Set the price level to $30. Adjust the quantity to the profit maximizing level. When profits are maximized, the firm earns profits of $ -727.35 Report your answer to two decmal places. Indude a negative sign & needed. What would this firm's profits be if it dedded to hire no workers and produce nothing? $ Report your answer to two decimal places. Indude a negative sign If needed. b. Set the price level to $22 Adjust the quantity to the profit maximizing level. When profits are maximized, the firm earns profits of $

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