5. Profit maximization and 5hutting clown in the Short run The following graph plot5 dailz.f cost curuea for a firm operating in the competitive market for streaming devices. 40 36 32 28 24 20 PRICE (Dollars per streaming device) ATC 12 AVC 8 MC 2 10 12 14 16 18 20 QUANTITY (Thousands of streaming devices)Using the following table, for each prlce level, calculate the optimal quantity of units for the rm to produce. Using the data from the graph to determine the rm's total variable cost, calculate the prot or loss assoclated with producing that quantity. Assume that if the rm is lndl'erent between producing and shutting down, it will choose to produce. (Hint: Select purple points [diamond symbols} on the graph to receive exact average variable cost information. ,1 Price Quantity Total Revenue Fixed Cast Variable Cost Profit { Dollars per 5 [Teaming device) {Streaming de vices) (Dollars) (Dollars) (Dollars) (Dollars) If the rm shuts down, it must incur its xed costs (FC) in the short run. In this case, the rm's fixed 520.00 .000 per day. In other words, if it shuts down, the rm would suffer losses of $44,000 per day until its xed costs and [such as the expi building lease). This rm's shutdown pricethat isr the price below which it is optimal for the firm to shut downis V per streaming device