Bags/ Participants	Fixed Cost	Variable Cost	Total Cost	Average Variable Cost	Marginal Cost	Total Revenue wt Price $20	Marginal Revenue	Total Profit
0	1700	0	1700			0		-1700
100	1700	500	2200	5	5	2000	20	-200
200	1700	1200	2900	6	7	4000	20	1100
300	1700	2700	4400	9	15	6000	20	1600
400	1700	5200	6900	13	25	8000	20	1100
500	1700	9000	10700	18	38	10000	20	-700
600	1700	15000	16700	25	60	12000	20	-4700
700	1700	23800	25500	34	88	14000	20	-11500
800	1700	36800	38500	46	130	16000	20	-22500
900	1700	55800	57500	62	190	18000	20	-39500
1000	1700	83000	84700	83	272	20000	20	-64700

Which of the following four statements are correct?

1. The quantity at which breakeven occurs is found where TR - TC = 0.
2. The quantity of participants/bags that maximizes profits is found where MRMC 300.
3. The quantity of participants/bags that maximizes profit is found where MRMC 400.
4. Using Qb = F/(MR - AVC) the estimated breakeven quantity of participants/bags in approximately between 113 and 115.