53.[2 marks]Consider total cost and total revenuegiven in the table below.

Q	TR	TC	Profit	MR	MC	DProfit
0	$0	$50	50	n/a	n/a	n/a
1	100	90	10
2	200	150	50
3	300	230	70
4	400	330	70
5	500	450	50

a. Calculate profit, MR, MC, andDelta profit (change in profit) for each quantity. (Other to say, fill in the empty spaces in the table. Note. In this table, MR at Q=1 indicates MB between Q=0 and Q=1. The same as MC table.)

b. Can you tell whether this firm is in a competitive industry? And why?

c. What are the profit maximizing quantity and price?