Q (cases)	TFC	TVC	TC	AFC	AVC	ATC	MC
0	$100	$0	100	----	----	----	----
1	100	50	150	100	50	150	50
2	100	70	170	50	35	85	20
3	100	90	190	33	30	63	20
4	100	140	240	25	35	60	50
5	100	200	300	20	40	60	60
6	100	360	460	17	60	77	160

4. Fill in the following based on the information from your completed table.

Assume the firm faces a price of $50.00

4.1. The firm will produce 21units of output. Total Revenue is $ 1,050 and Total Cost is $ 1,610

4.2 The firm makes a profit (loss) of $ 560 (show your calculation)

21 x 50 = 1,050

1,050 - 1,610 = -560

4.3 At the $50 price the firm covers all its variable costs and has $ ___________ left to cover its fixed costs.

4.4 If the firm temporarily shuts down and produces nothing it would lose $ __________. This amount is equal to the firm's ___________ costs.

4.5 In order for a firm to produce it must cover all its _____________________ costs. For this firm any price under $ _________ would cause the firm to shut down.