Asst#7(Ch 08)For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at thatquantity, using the data from the preceding graph to identify its total variable cost. Assume that if the firm is indifferent between producing andshutting down, it will produce. (Hint: You can select the purple points (diamond symbols) on the previous graph to see precise information on averagevariable cost.)If the firm shuts down, it must incur its fixed costs (FC) in the short run. In this case, the firm's fixed cost is $135,000 per day. In other words, if itshuts down, the firm would suffer losses of $135,000 per day until its fixed costs end (such as the expiration of a building lease).This firm's shutdown point--that is, the price below which it is optimal for the firm to shut down--is_ ? per shirt.Price(Dollars per shirt)12.50 27.50 45.00Quantity?(Shirts)Total Revenue?(Dollars)Fixed Cost(Dollars)135,000135,000135,000Variable Cost?(Dollars)Profit?(Dollars)