Worksheet: Perfect Competition The following table provides data for a firm pertaining to sales, price and cost. Fill the following table. Averag Margin AVC al Total Revenu Revenu Quantit Price Revenu e (TR/ e (ATR/ Total Fixed Variablargin y (Q) (P) e (PXQ) Q) 4 Q) Cost Cost e Cost al Cost Profit 0 $6 $3 1 $6 $5 2 $6 $8 3 $6 $12 4 $6 $17 5 $6 $23 6 S6 $30 7 S6 $38 8 $6 $47 Using the table above 1), What specific information in the above table ensures that the firm is operating in a perfectly competitive market environment? 2) In a graph draw AC, MC, AVC, AR and MR curves 3) In the graph you have drawn in part (2) show the area which represents Total Cost, Total Revenue, Profit, Total Variable Cost and Total Fixed cost