(a)Complete the columns of MC, ATC and AVC.

(b)Suppose the current market price of a pizza=$50. How many pizzas should the restaurant sell? Calculate the profit/loss made by the restaurant.

(c)Give the range of the market price such that the restaurant will shut down.

(d)The pizza restaurant needs to pay rent, and the amount of rent paid does not depend on the number of pizzas produced in short run. Yet the amount of rent paid changes with the number of pizzas produced in long run. Explain why in long run the rent paid varies with the number of pizzas produced.