A smаll mаchine tооl prоducer wаnts to determine whether to produce in-house or contract with a supplier. In-house production incurs fixed costs of $8,000 and variable costs of $50 per unit. The supplier has no fixed costs, only variable costs of $100 per unit. Each item is sold to the retailer at a price that averages $150.00. At what range of output would in-house production be more profitable than contracting a supplier? (8 pts) TC = FC + v* Q TR = R*Q Profit = TR - TC