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Auction sells sprockets in a perfectly competitive market. Below are its short-run total variable costs at different output levels. The firm's fixed cost is $5. The market price of one sprocket is $8. Units Total Variable Cost 50 $12 2 $18 3 $22 528 535 What is the average total cost of the 5th unit? b. What is the first unit of output where diminishing marginal returns have begun? c. What profit or loss would Auctionarn at its profit maximum? Show your work. d. Would Auction operate in the short run? Explain. e. Would Auctionstay in the market in the long run? Explain