The Mar-A-Largo Cap Company, operating from a small tool shed converted into a stand at the entrance of one of Palm Beach Florida's most exclusive resorts sells red baseball caps with the owner's logo printed on each cap. It sells some caps to the resort's guests but most to passersby who come to gaze at the resort from afar. Its owner, who often waves to the stand's customers from the balcony of his apartment, views the stand as a way to make an extra buck while the resort's popularity is at its peak. Assume the market for baseball caps is perfectly competitive and that the price of a cap in Florida is currently $22 Use the following table to answer the questions below. (1) Total (2) (3) (4) (5) Output Caps sold per hour Total Variable Cost Total Fixed Cost Total Cost Marginal Cost 0 $0 $10 ------ 1 $10 $10 2 $22 $10 3 $44 $10 4 $68 $10 How many baseball caps should be sold each hour if the kiosk owner wants to maximize hourly profits? What are the firm's hourly profits