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QUESTION 7 Costs for Toy-Making Firm ATC AVC AFC 93.75 17 58.82 27 46.30 37.50 54 32 41 66 3030 76 29.61 84 29.76 30.22 96 31.25 31.25 29.41 27.78 25.00 23.15 22.73 23.03 23.81 24.73 26.04 62 50 31 25 27.78 1852 25.00 12 50 19.23 17.86 20.83 25.00 31.25 35.71 50.00 40 9.26 7.58 6.58 5.95 5.49 5.21 Reference Ref 8-7 (Table) If the toy-making firm in the table faces a market price of $36 in the short run, it will maximize its profits by producing toys O 54 O 91 O 84 0 96
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    Use the following to answer questions 14-16: Costs for Toy-Making Firm ATC AVC AFC MC 8 40 54 66 76 84 91 96 93.75 58.82 46.30 37.50 32.41 30.30 29.61 29.76 30.22 31.25 31.25 29.41 27.78 25.00 23.15 22.73 23.03 23.81 24.73 26.04 62.50 29.41 18.52 12.50 9.26 7.58 6.58 5.95 5.49 5.21 31.25 27.78 25.00 19.23 17.86 20.83 25.00 31.25 35.71 50.00 14. (Table) If the toy-making firm in the table faces a market price of $20 in the...

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