Consider the following table for a competitive firm:

Output	Total Cost
0	$32
1	$52
2	$78
3	$110
4	$148
5	$192

You should be able to calculate VC, FC, MC, ATC, AVC, and AFC from the information above to help you answer the following questions. Your answers should be integers unless otherwise noted.

Suppose the market price is $26.

What is the firm's profit maximizing quantity?

What is the firm's short-run profit?

What is the firm's AVC?

What is the firm's AFC?

Based on your answers, should the firm continue production in the short run? (yes/no)

Based on your answers, should firms enter this market, exit this market, or neither in the long run? (enter/exit/neither)

Now, suppose the market price increases to $38.

What is the firm's profit maximizing quantity?

What is the firm's short-run profit?

What is the firm's AVC?

What is the firm's AFC?

Based on your answers, should the firm continue production in the short run? (yes/no)

Based on your answers, should firms enter this market, exit this market, or neither in the long run? (enter/exit/neither)