Question: Please answer the question below Q1- The data in the table below give information about the price (in dollars) for which a firm can sell

Please answer the question below

Q1- The data in the table below give information about the price (in dollars) for which a firm can sell a unit of output and the total cost of production. a. Fill in the blanks in the table. b. Show what happens to the firm's output choice and profit if the price of the product falls from $60 to $50. TR MC MR R MR P P= 60 TC P= 60 P= 60 P = 60 P=50 P=50 P=50 100 150 178 198 212 230 250 272 310 355 60 410 11 60 475

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