The table above gives the AVC, ATC, and MC schedules for a perfectly competitive firm.What is the total variable cost when the firm produces 14 units of output?If the price of a unit of output is $60.00, what is the profit-maximizing quantity? Is it possible to determine the economic profit or economic loss at this price? If not, explain why not; if so, what is it?If the price of a unit of output is $45.00, what is the profit-maximizing quantity? Is it possible to determine the economic profit or economic loss at this price? If not, explain why not; if so, what is it?

Quantity AVC ATC MC tunics) [dollars per unit) [dollars per unit) (dolars per unitl 13 $50.38 $51.54 $40.00 14 $50.00 $51.07 $45.00 15 $50.00 $51.00 $50.00 16 $50.31 351.25 $55.00 17 $50.88 $91.75 $60.00 18 $5147 $52.50 $65.00