4. Rasiah's Garden of fruit is a firm selling fruits in a perfectly competitive market. Total fixed cost is RM50, and the wage for labour is RM5 per worker. The estimated output produced and cost are as follows: Labour Output (Kg of fruits) usage 0. 0. 8. 10 12 20 17 30 24 40 33 50 44 60 57 70 Calculate the total variable cost, average total cost, average variable cost, marginal cost, total revenue and marginal revenue. b. If Rasiah's garden of Fruits sells a kilo of fruit for RM3.50, how many Kg of fruit (output) should the firm sell in order to maximise profits, and how much profits would the firm make? a.

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