$\backslash$table$[[1.$ Given the following information:$],[$Total Pro,,Price Fixe,$],[$Variable Cost $($TVC$).],[0,$$$3500,$$$2000,$$ $0],[1,3500,2000,4000],[2,3500,2000,7000],[3,3500,2000,7500],[4,3500,2000,11000],[5,3500,2000,16000],[6,3500,2000,24000]]$

a$.$ Based upon the numbers from the table above, is this firm is operating in the short$-$run or

the long$-$run? How do you know which time period it is operating in$?(4$ points$)$

b$.$ Based upon the numbers from the table above, how do you know that this firm exemplifies a purely competitive firm? $(3$ points$)$

c$.$ Solve for total cost $($TC$),$ average fixed cost $($AFC$),$ average variable cost $($AVC$),$

average total cost $($ATC$),$ marginal cost $($MC$),$ total revenue $($TR$),$ and marginal revenue

$($MR$)$ at every total product quantity. $(36$ points$)$

d$.$ What is the profit maximizing level of total product $($TP$)$ in this example? $(3$ points$)$

e$.$ At a quantity of $1,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$

f$.$ At a quantity of $2,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$

g$.$ At a quantity of $3,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$

h$.$ At a quantity of $4,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$

i$.$ At a quantity of $5,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$

j$.$ At a quantity of $6,$ will this firm produce or shutdown? Explain.

How much of a profit or loss does the firm incur based upon their decision to produce or shutdown? $(9$ points$)$