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U The Firm's Output Decision (Study Plan 12.2) Use the following table to work Problems 2 to 4. Pat's Pizza Kitchen is a price taker

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U The Firm's Output Decision (Study Plan 12.2) Use the following table to work Problems 2 to 4. Pat's Pizza Kitchen is a price taker and the table shows its costs of production. Oulput Total cost (pizzas per hour} {dollars per hour} 0 l 0 1 2 I 2 30 3 4 1 4 54 5 69 2. Calculate Pat's profitmaximizing output and economic prot if the market price is (i) $14 a pizza, (ii) $12 a pizza, and (iii) $10 a pizza. 3. What is Pat's shutdown point and what is Pat's economic prot if it shuts down temporarily? 4. Derive Pat's supply curve

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