Madison College 1. (4 pts.) Please answer the questions below this table. (7) (1) (2) (3) (4) (5) (6 Output Price per Total Marginal Total Average Marginal Unit Revenue Revenue Cost Total Cost Cost (Q) (P) (TR) (MR) (TC) (ATC) (MC) 0 $15 $11 14 18 13 24 12 27 L 11 35 UI 10 50 9 78 a. The above data represents the revenues and costs of a firm with some monopoly power because there is room for economic profit b. How do you know this is a short-run situation? c. Fill in the blanks in the table above. d. How much output should this firm produce to maximize it's profit? price should this firm charge for its product? $ units. What per unit. This choice of output and price will lead to an economic profit = $