Kate's Catering provides catered meals, and the catered meals industry is perfectly competitive. Kate's machinery costs $100 per day and is the only xed input. Her variable cost consists of the wages paid to the cooks and the food ingredients. The variable cost per day associated with each level of output is given in the accompanying table. QuantinLQLmeaia Karim (3} 0 D 10 200 20 300 30 480 40 700 50 1,000 (a) Calculate the, the average variable cost. the average total cost, and the marginal cost for each quantity of output. Hint: You can use the following format as reference: W W6) IctaLccsHS) Ammo) MminaLCnst (S) 0 0 10 200 (12 marks) (b) What is the break-even price? What is the shut-down price? (8 marks) (c) Suppose that the price at which Kate can sell catered meals is $21 per meal. In the short run. will Kate earn a prot? In the short run, should she produce or shut down? (10 marks) (d) Suppose that the price at which Kate can sell catered meals is $17 per meal. In the short run, will Kate earn a prot? In the short run, should she produce or shut down? (It) marks) (e) Suppose that the price at which Kate can sell catered meals is 5 [3 per meal. In the short run. will Kate earn a prot? In the short run, should she produce or shut down? (10 marks)