Statistics Homework (6 Questions Total). All Work Must Be Shown

4.5 Matthew Rafferty produces hiking boots in the perfectly competitive hiking boot market.

a. Fill in the missing values in the following table:

b. Suppose the equilibrium price in the hiking boot market is $100. How many boots should Rafferty produce, what price should he charge, and how much profit will he make?

c. If next week the equilibrium price of boots drops to $65, how many boots should Rafferty produce, what price should he charge, and how much profit (or loss) will he make?

d.    If the equilibrium price of boots falls to $50, how many boots should Rafferty produce, what price should he charge, and how much profit (or loss) will he make?