Tom, the only steel drum manufacturer in Narnia, can sell a single drum for $30. However, for every extra drum he wants to sell, he is forced to reduce the price (for all his customers) by $2. The total fixed costs in his workshop are $15, and the variable cost of the first drum produced is $25. For each extra drum thereafter, the cost drops by $5 up to, and including, the fifth drum. After that, the cost of each extra drum increases by $5. a) Draw the AR, MR, AC, and MC curves. b) What is Tom's profit-maximizing output, price, and total profit or loss? Output: 6 Price: $ 20 Profit/loss: $ 20