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The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a purely competitive firm that produces novelty ear buds. Assume the market for novelty ear buds is a competitive market and that the price of ear buds is $6.00 per pair Buddies Production Costs Quantity of Ear Buds 10 MC ($) ATC (5) 3.50 3.00 15 2.00 20 2.86 2.44 3.56 3.00 25 30 35 4.02 5.48 5.98 8.49 3.17 3.50 3.81 ces 40 45 4.33 Instructions: In part a, enter your answer as the closest given whole number. In parts b-d, round your answers to two decimal places. a. If Buddies wants to maximize profits, how many pairs of ear buds should it produce each week? 6 pairs b. At the profit-maximizing quantity, what is the total cost of producing ear buds? 3.81 c. If the market price for ear buds is $6 per pair, and Buddies produces the profit- maximizing quantity of ear buds, what will Buddies profit or loss be per week? d. Now assume the market price is $5.50 per pair, and Buddies produces the profit- maximizing quantity of ear buds. What will Buddies profit or loss be per week