Assume that Harry Ellis produces table lamps in the perfectly competitive table lamp market.

Output	Total costs	Average fixed cost	Average variable cost	Average total cost	Marginal cost
0	100
1	150
2	175
3	190
4	210
5	240
6	280
7	330
8	390
9	460
10	540

1. Fill in the missing values in the table.
2. Suppose the equilibrium price in the market is $50. How many table lamps should Harry produce, and how much profit will he make?
3. If next week the equilibrium price of table lamps drops to $30, should Harry shut down? Explain.