Short-run costs example -Homework assignment . Electronic repair business .Fixed costs $270,000 for Lease, tools, overhead staff) .C(q) = 270 + 30q + 0.3q2 .Demand given by p = 50 -0.2q1 . Marginal and Average Cost curves in short-run. 1. Calculate MR, AVC 2. Plot the Demand, AC, MC, MR & AVC curves 3.What is the profit maximizing output q and p 4. What is the firm's best course of action in the short run? 5. In the long run?Average Annual output Fixed cost in Variable Total Cost Varable Average cost in Marginal cost in $ repairs in 000 $000 cost in $000 in $000 cost $ per unit (SAC) per unit (SMC) Price MR Revenue Profit O 270 0.0 270.0 5 270 157.5 427.5 10 270 330.0 600.0 15 270 517.5 787.5 20 270 720.0 990.0 25 270 937.5 1207.5 30 270 1170.0 1440.0 35 270 1417.5 1687.5 40 270 1680.0 1950.0 45 270 1957.5 2227.5 50 270 2250.0 2520.0 55 270 2557.5 2827.5 60 270 2880.0 3150.0