Assuming the market for chicken skewers is competitive. A typical firm selling chicken skewers has the following short run cost functions. = 100 + 40 − 32 + 1 6 3 = 40 − 6 + 1 2 2 a. Find the amount of total fixed cost. (1 mark) b. Derive the average variable cost (AVC) function. Show your workings. (3 marks) c. Find the output level that corresponds to the minimum AVC. Show your workings. (Hint: What is the feature of the minimum AVC curve?) (3 marks) d. Show the output level in part c, MC curve and AVC curve in a well-labeled diagram. (3 marks) e. Suppose that the market price of chicken skewers is $40. Find the profit- maximizing output level for the typical firm in the short-run. Show your steps clearly. (3 marks) f. Given the results of part e, should the typical firm shut down? Explain your answer clearly. (4 marks) g. Does the market for chicken skewers have a greater number of firms in the long run than in the short run? Please provide a verbal explanation for your answer.