4. (6+6+6+6+6+6 points) The graph below displays the short-run average variable cost (AVC), the short-run average total cost (ATC), and the marginal cost (MC) curves of a company Y which produces a...

Extracted text: 4. (6+6+6+6+6+6 points) The graph below displays the short-run average variable cost (AVC), the short-run average total cost (ATC), and the marginal cost (MC) curves of a company Y which produces a homogenous product in a perfectly competitive industry. The vertical axis shows cost while horizontal axis shows the level of output. Suppose that the equilibrium price is equal to $30. MC ATC $40 $38 $30 AVC $20 $15 35 40 Output i. Using the graph above, find the profit-maximizing output of Y in the short-run and marginal revenue at this output. ii. Using the graph above, find the total fixed cost of Y. What is the average fixed cost when Y produces 40 units of output? Cost