1. A monopolistically competitive firm has the following demand and cost structure in the short run.

Output	Price	FC	VC	TC	TR	Profit/Loss
____	0	$85	$25	$0	____	____
____	1	75	____	50	____	____
____	2	65	____	90	____	____
____	3	55	____	130	____	____
____	4	45	____	230	____	____
____	5	35	____	340	____	____
____	6	25	____	450	____	____
____	7	15	____	680	____	____

1. 1. Complete the table.
   2. What level of output maximizes profit or minimizes loss?
   3. Should this firm operate or shut down in the short run? Why?