Q The table below refers to a purely competitive firm whose objective is to maximize its profits. TFC TVC 100 $ 100 $ 100 $ 100 $ TC 100 $ 100 $ 100 $ 100 $ AFC 0 $ $ 100 1 $ 25 $ 125 $ 2 $ 35 $ 135 $ 3 $ 50 $ 150 $ 4 $ 100 $ 200 $ 5 $ 180 $ 280 $ 6 $ 340 $ 440 $ 7 $ 560 $ 660 $ *Answer all questions as a whole number 100 $ 50 $ 33 $ 25 $ 20 $ 17 $ 14 $ A A AVC N A 25 $ 18 $ 17 $ 25 $ 36 $ 57 $ 80 $ ATC 125 $ 68 $ 50 $ 50 $ 56 $ 73 $ 94 $ MC MR BOX 1. What is the price of the Product? BOX 2. What is the total maximum profit/loss? BOX 3. What is the break-even production level (i.e. lowest profitable output)? BOX 4. Calculate maximum profit/minimum loss if price were $80/unit $ 25 $ 100.00 $ 10 $ 100.00 $ 15 $ 100.00 $ 50 $ 100.00 $ 80 $ 100.00 $ 160 $ 100.00 $ 220 $ 100.00 $ TR 100 200 300 400 500 600 700