Please solve question 6 and question 7. Refer to the circled portion on the table. Please explain step by step how you got the answer. Also please clearly label and separate work and answer so it is easy to read.

rater Why? What level of output will maximize the firm's total profit? What price will be charged? d. Compute the firm's maximum total profit. 6. Table 5.3 shows the revenue and cost data for Charette Technologies Co. Graph the information contained in the table. b. In what market structure does this firm operate? Why? c. What level of output will maximize the firm's total profit? d. Compute the firm's maximum total profit Table 5.3 Revenue and Cost Data of Charette Technologies Co. Output Price MR MC 0 1 $35.00 32.00 29.00 $32.00 $48.00 2 26.00 $48.00 12.00 30.00 3 20.00 26.00 23.00 23.34 4 14.00 10.00 14.00 21.00 5 20.00 8.00 20.00 16.00 7. Table 5.4 shows the short-run revenue and cost data for a television manufacturer that sells in a perfectly competitive market. a. Graph the information contained in the table. b. Assuming that the market price is $280 per television, determine the firm's prof- it-maximizing output and total profit. c. Assuming that the market price is $580 per television, determine the firm's prof- it-maximizing output and total profits. d. Assuming that the market price is $160 per television, will the firm continue to pro- duce or should it shut down? Why? What if the market price is $120 per television? Table 5.4 Cost Data for'a Perfectly Competitive Firm Quantity of Television AFC AVC ATC MC 1 $600 $200 150 $800 450 2 3 300 $200 100 120 Pa MR 20 5801 250 1580 KTO 580 580 280 270 200 140 4 150 146 340 296 280 5 160 220 120 160 v 6 280 100 86 280 180 206 2802 7 292 360 280 8 76 238 312 9 10 66 276 342 460 580 720 60 320 380 rater Why? What level of output will maximize the firm's total profit? What price will be charged? d. Compute the firm's maximum total profit. 6. Table 5.3 shows the revenue and cost data for Charette Technologies Co. Graph the information contained in the table. b. In what market structure does this firm operate? Why? c. What level of output will maximize the firm's total profit? d. Compute the firm's maximum total profit Table 5.3 Revenue and Cost Data of Charette Technologies Co. Output Price MR MC 0 1 $35.00 32.00 29.00 $32.00 $48.00 2 26.00 $48.00 12.00 30.00 3 20.00 26.00 23.00 23.34 4 14.00 10.00 14.00 21.00 5 20.00 8.00 20.00 16.00 7. Table 5.4 shows the short-run revenue and cost data for a television manufacturer that sells in a perfectly competitive market. a. Graph the information contained in the table. b. Assuming that the market price is $280 per television, determine the firm's prof- it-maximizing output and total profit. c. Assuming that the market price is $580 per television, determine the firm's prof- it-maximizing output and total profits. d. Assuming that the market price is $160 per television, will the firm continue to pro- duce or should it shut down? Why? What if the market price is $120 per television? Table 5.4 Cost Data for'a Perfectly Competitive Firm Quantity of Television AFC AVC ATC MC 1 $600 $200 150 $800 450 2 3 300 $200 100 120 Pa MR 20 5801 250 1580 KTO 580 580 280 270 200 140 4 150 146 340 296 280 5 160 220 120 160 v 6 280 100 86 280 180 206 2802 7 292 360 280 8 76 238 312 9 10 66 276 342 460 580 720 60 320 380