1. The following table shows the average cost and average revenue (price) for a firm at each level of output (a) Fill in the missing values. (b) Find the profit-maximising output. What is the profit at that output? (c) From your understanding, would the firm above be a perfectly competitive firm or monopoly? Give reasons for your answer (d) Sketch the profit maximizing graph. Mark the profit-maximising output and show the level of profits at this output.