Tom Railbon is an artist. He has a particular piece of sculpture that he makes and sells at local art fairs. He sells the sculpture for $220. Recently he decided it was time to actually do economic analysis of his business to see how many pieces he should sell to maximize his profit. He came up with the following analysis of his costs:

Quantity | Total Variable Cost (T.V.C.) |

1 | $200 |

2 | $380 |

3 | $540 |

4 | $720 |

5 | $920 |

6 | $1,170 |

7 | $1,470 |

In addition to the variable costs, he also figures he has $100 in fixed costs. Using that information complete the following table:

Quantity | T.V.C. | Total Cost | Marginal Cost | Total Rev. | Marginal Rev. |

1 | $200 | | | | |

2 | $380 | | | | |

3 | $540 | | | | |

4 | $720 | | | | |

5 | $920 | | | | |

6 | $1,170 | | | | |

7 | $1,470 | | | | |

Now, using the Marginal Cost and Marginal Revenue, explain what quantity Tom should produce to maximize his profit.