Determine the annual profit/loss based on profit-maximizing production. What is the annual profit/loss? What is the profit-maximizing production level? Explain the process followed to determine the profit-maximizing production level (quantity). What would happen if production is above that amount? What are the concepts of opportunity cost and economic profit?

Quantity	MR = Price per Unit	TFC	TVC	AFC	AVC	TC	ATC	MC
0	$ 325.00	$ 100.00
1	$ 325.00	$ 100.00	$ 400.00
2	$ 325.00	$ 100.00	$ 600.00
3	$ 325.00	$ 100.00	$ 750.00
4	$ 325.00	$ 100.00	$ 950.00
5	$ 325.00	$ 100.00	$ 1,200.00
6	$ 325.00	$ 100.00	$ 1,525.00
7	$ 325.00	$ 100.00	$ 1,950.00
Conventions
MR	Marginal revenue
TFC	Total fixed cost
TVC	Total variable cost
AFC	Average fixed cost
AVC	Average variable cost
TC	Total cost
ATC	Average total cost
MC	Marginal cost