2. [18 points in total] Jiamin runs a pizza restaurant where her fixed costs are $150 per day, and her variable costs are given by the table: MC ATC Quantity of Total Costs AVC Variable Pizza per day Costs 0 0 100 300 200 400 300 500 400 850 500 1150 a) Calculate Jiamin's total costs, average variable costs, average total costs, and marginal costs. (4 points) b) (0.5 point) What is Jiamin's breakeven price? c) (0.5 point) What is Jiamin's shut down price? d) Suppose the price of pizzas is $3.00. In the short run, should Jiamin produce or shut down? If she produces, what will her profit be? (3.5 points) Circle one: Produce or Shut down Quantity produced = Total revenue = Total costs = Profit = e) Suppose the price of pizzas is $2.30. In the short run, should Jiamin produce or shut down? If she produces, what will her profit be? (3.5 points) Circle one: Produce or Shut down Quantity produced = Total revenue = 12