Imagine that you are the manager of a firm that sells 500 units per week. You charge $50 per unit, where the average variable costs are $30, and the average total costs are $45. Should your firm shut down in the short run and/or in the long run? How much profit does your firm earn per week? At what price would you consider shutting down the firm in the short run and in the long run? Please explain. (4 points) 2. Suppose that you have just landed a job in production management for a company. You are responsible for the entire company on the weekends. Your costs are shown in the table below: Quantity Average Total Cost 500 $200 501 $201 Your current level of production is 500 units. All 500 units have been ordered by your regular customers. The phone rings, it's a new customer who wants to buy one unit of your product. This means you would have to increase production to 501 units. Your new customer offers you $450 to produce the extra unit. Should you accept this offer? Why or why not?1 (3 points) 1 Hint: Compare the marginal cost with the marginal revenue (the offered