Question 5: Inputs and Costs, Perfect Competition (30 points) The table below gives the revenue and cost curves for Coffee Pros, a perfectly competitive coffee production rm. a. Graph the rm's marginal and average total cost curves, then add the demand curve and indicate the market price faced by the rm as well as the quantity produced. Is the rm earning an economic prot or loss at this price? Explain. (5 points) b. Calculate and add the average variable cost curve to your graph. (5 points) 0. If the market price for coffee were $7, what quantity of coffee would the rm produce? Would it be earning an economic prot or loss at this price? If so, how much? (5 points) (1. If the market price were $4.50, based on your graph, estimate the quantity produced assuming that bags of coffee can be divided. Would the rm earn an economic prot or loss at this price? If so, how much? (5 points) ' e. What is the range of prices over which the rm would contihue to operate at loss in the short run? Then indicate the shutdown price on your graph. (10 points)