Output FC AFC VC AVC TC ATC MC
1 $50 $50 $30 $30 $80 $80
2 $50 $25 $50 $25 $100 $50 $20
3 $50 $17 $80 $27 $130 $43.33 $30
4 $50 $13 $120 $30 $170 $42.50 $40
5 $50 $10 $170 $34 $220 $44 $50
At a price of $40, what output level would the firm produce? What would its profits be?