please answer the questions as well as drawing the diagrams required

Check Your Understanding 1. Draw a short-run diagram showing a U-shaped average 2. The state of Maine has a very active lobster industry, total cost curve, a U-shaped average variable cost curve, which harvests lobsters during the summer months. and a "swoosh"-shaped marginal cost curve. On it, indi- During the rest of the year, lobsters can be obtained by cate the range of prices for which the following actions restaurants from producers in other parts of the world, are optimal. but at a much higher price. Maine is also full of "lobster a. The firm shuts down immediately. shacks," roadside restaurants serving lobster dishes b. The firm operates in the short run despite sustaining that are open only during the summer. Supposing a loss. that the market demand for lobster dishes remains the c. The firm operates while making a profit. same throughout the year, explain why it is optimal for lobster shacks to operate only during the summer