1010E-11901) A profit-maximizing firm in a competitive industry has the cost structure shown in the table below. Average Average Marginal Total Cost Fixed Cost Quantity Cost 1 25.00 20.00 4.20 2 14.40...

Extracted text: 1010E-11901) A profit-maximizing firm in a competitive industry has the cost structure shown in the table below. Average Average Marginal Total Cost Fixed Cost Quantity Cost 1 25.00 20.00 4.20 2 14.40 10.00 3.60 3 10.87 6.67 4.20 4 9.40 5.00 6.00 9.00 4.00 9.00 6 9.33 3.33 13.20 10.26 2.86 18.60 8 11.70 2.50 25.20 9 13.62 2.22 33.00 10 16.00 2.00 42.00 Calculate this firm's shut-down price, and explain your answer. What is this firm's supply curve? In answering this question, indicate the minimum price necessary for the firm to produce a positive quantity and the quantity it would produce that minimum price? (Hint: Draw on your answer to part a.) If marginal revenue is $9, how much output will the firm produce, and how much profit will it make? Show your calculations. a. b. C.