Question 4: Novotel Lotus provides catered meals, and t catered meals industry is perfectly competitive. Novotel Lotus machinery costs $100 per day and is the only fixed input. The firm's variable cost consists of the wages paid the cooks and the food ingredients. The variable cost per associated with each level of output is given in the accompanying table. Quantity of meals VIC TC MC AVE $200 $300 $480 $?00 $1000 4.1. Calculate the total cost, average variable cost, the average total cost, and the mar cost for each quantity of output. Enter these figures in th table. 4.2. What is the break-even price? What is the shut-down price? 4.3. Suppose that the price at which Novotel Lotu sell catered meals is $21 per meal. In the short run, will Novotel Lotus earn a profit? In the short run, should the produce or shut down? 4.4. Suppose that the price at whi Novotel Lotus can sell catered meals is $1? per meal. In short run, will Novotel Lotus earn a profit? In the short r should the firm produce or shut down? 4.5. Suppose that price at which Novotel Lotus can sell catered meals is $1 per meal. In the short run, will Novotel Lotus earn a prof In the short run, should the firm produce or shut down