(Solved): Question 1Question 2 The marginal costs (MC), average variable costs (AVC), and average total costs ...

The marginal costs (MC), average variable costs (AVC), and average total costs (ATC) for a firm are shown in the figure below. The market price is \( \$ 10 \) Instructions: Use the tool provided 'Profit/Loss' to illustrate the area of profit (or loss) that occurs at this level of output. Drag the points to move of resize (1) Tools :.. Proftitions Instructions. Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (i) in front of those numbers. At the profit-maximizing level of output, average total cost is \( \$ \) and profitis \( \$ \) Use the i?gure below to answer the rollowing questions. Instructions: Enter your answers as a whole number What is the profit-maximizing quantity when price is \( \$ 20 \) ? units What is the profit-maximizing quantity when price is \( \$ 30 \) ? units