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Question 4 (marks 5} o A rm has xed costs of $240 and variable costs as indicated in the table at the bottom of this page. Complete the table. Total Total Total Total Cost Average Product xed Cost Variable Cost 0 D Assume that the cost data in table are for a purely competitive producer: At a product price of $224, will this rm produce in the short run? If it is preferable to produce, what will he the prot-maximizing or loss-minimizing output? What economic prot or loss will the rm realize per unit of output? b. Answer the questions of 4 assuming product price is $164. c. Answer the questions of 4 assuming product price is $128