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Problem description Eustachian Ducting of Erie, Pennsylvania, has hired Diller Didactic to advise them on their cost and production decisions. The owner of Eustachian Ducting

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Problem description Eustachian Ducting of Erie, Pennsylvania, has hired Diller Didactic to advise them on their cost and production decisions. The owner of Eustachian Ducting tells Priscilla that he can get as many ducting jobs as he wants if he charges $50 per job. Priscilla decides to begin by estimating the firm's short-run total cost schedule. Her results are given in the following table, where Q is the number of jobs per day and TC is total cost per day.+ 0+ 1+ 24 3+ 4+ 5+ TC+ 60+ 75 80+ 90- 120+ 180+ 300 N 1. Fill in the blanks in the table below with total fixed cost (TFC), total variable cost (TVC), total revenue (TR), and total profit (TT). Plot the total cost curves and the total revenue curve on the graph that follows. How many jobs should Eustachian Ducting accept per day to maximize profits? How many jobs does the firm need per day to break even?~ TC+ TFC+ TVC+ TR + TT* $60+ 1+ $75+ 2+ $80- $90- 4+ $120+ 5+ $180+ 6+ $300+ Table 1 Cost and revenue data, per day. 2. Fill in the blanks in the table below with average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), marginal cost (MC), and marginal revenue (MR). Plot the unit cost curves and marginal revenue on the graph that follows. Use unit costs and marginal revenue to determine the number of jobs per day that are required to break even, the number that will maximize profit, and the total profit that the firm will realize at this level of output Q AFC+ AVC+ ATC+ MC+ MR- 24

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