The market rpice for siding and triming a house is $10,000. The Total Cover-Up Co. has fixed costs of $4,000 for ladders, supplies and so on, and the company's variable cost for siding are: Output in # of houses 2 at VC $26,000,3 housesat $32,000, 4 at $36,000, 5 at $42,000, 6 at $50,000, 7 at $60,000, 8 at $72,000, 9 at $86,000 and 10 house at VC $102,000. In a table,calculate the company's FC, TC, MC, TR, MR and Profit. Then, answer these questions:
1. Over what range of production is the company earning profits?
2. At what "level of output" is the firm maximizing profits?
3. At what level of output is the firm breaking even? and
4. At what point will the firm shut down in the long run?