You are operating a firm in a perfectly competitive market. In the short run, you have fixed costs of $30. Your variable costs are given in the following table:
Q..............................TVC
0...................................0
1................................100
2...............................150
3..............................180
4..............................220
5..............................300
6..............................390
Complete the following table:
Market Price Profit maximizing level of output Profit
$52
$60
$70
$85