As the owner of a company producing winter accessories in a perfectly competitive market, you are evaluating the costs and benefits of different levels of production. The table below represents various quantities of winter gloves your company can produce, the market price per unit, and your company's fixed costs. Assume the market price is determined by industry demand and supply, and that you are a price taker in this market.

Given the constant market price per unit of $15 and a fixed cost of $100, with variable costs being $10 per unit:

a) Fill the table including TR,TC,MC,MR and Profit. Use Excel, Google Sheet or paper and pen. It is important to show the Excel or Google Sheet formulas or workings for all the columns. Simply stating the formula as the bottom or top of the paper or Sheet is not sufficient. (32 points)

b) Explain why, in a perfectly competitive market, the Marginal Cost (MC) will eventually equal the Marginal Revenue (MR) at the profit-maximizing quantity of output. What does this imply about your production decision? (4 points)

c) Determine the break-even point where total revenue equals total cost. How many units must you sell to reach the break-even point? (4 points)