Question: Suppose we have a perfectly competitive firm whose cost structure is given below. Please use the information given to fill in the blanks for average

Suppose we have a perfectly competitive firm whose cost structure is given below. Please use the information given to fill in the blanks for average variable cost, average total cost, and marginal cost. Prices and profits should be written with 2 decimal places, just like the other numbers in the table (Examples: 27.45, 32.50, 40.00). Do not enter the dollar symbol. Quantity of Output Variable Cost Total Cost Average Variable Cost Average Total Cost Marginal Cost 0 0 $20.00 NA NA NA 1 $20.00 $40.00 $ $40.00 $ 2 $35.00 $55.00 $17.50 $27.50 $15.00 3 $60.00 $80.00 $ $ $25.00 4 $100.00 $120.00 $25.00 $30.00 $ 5 $150.00 $170.00 $ $ $50 6 $210.00 $230.00 $35.00 $38.33 $60 What are this firm's fixed costs (write this with 2 decimal places, just like the numbers in the table)?$ If the market price for this good is $50, how many units of output will it sell in order to maximize profits? (write this as a single whole number) What are this firm's profits if it sells the profit maximizing unit of output? (write this with 2 decimal places, just like the numbers in the table) $

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