s Question: 1 pt 4 of 20 (17 complete) dward Scahill produces table lamps in the perfectly competitive desk lamp market. The equilibrium price of lamps is $45. Fill in the blanks in the table for total revenue and marginal revenue, as represented by (i and ii). (Enter your responses as Output per Total Costs Marginal Total Marginal tegers.) week Cost Revenue Revenue 0 $120 $0 () Total revenue is $ 145 150 $30 45 $45 170 20 90 45 (ii) Marginal revenue is $ 45 185 15 45 195 10 180 DONDUAUN- b. How many table lamps will Edward produce to maximize profit? lamps. 215 20 225 45 260 45 270 45 c. If next week the equilibrium price of desk lamps drops to $30, should Edward shut down? 305 45 315 45 385 80 360 45 100 45 O A. No because price is greater than minimum AVC. 485 405 O B. Yes because price is less than ATC. O C. No because he is covering his fixed costs and some of his AVC. D. Yes because he is not covering his fixed costs