The CEO of a crude oil producing company is looking through their staff and have complete cost information. At this current production level, 2000 barrels per day, the marginal cost of a barrel of crude is $35 with an average variable cost of $30 and average total cost of $40. What is the daily profit or loss? Show calculations. Should it stay at this level of production or increase or decrease production? What if price increases to $45 per barrel? Explain.