You have been hired by an unprofitable firm to determine whether it should shut down its operation. The firm currently uses 500 workers to produce 400 units of output per day. The daily wage (per worker) is RM150, and the price of the firm's output is RM45. The cost of other variable inputs is RM350 per day and the marginal cost of the last unit is RM30.

(i) Compute total cost, average variable cost, total revenue and average revenue.

(ii) Discuss whether should the firm continue to operate or decide to shut down operation based on the above production cost analysis.