Question: The graph illustrates an average total cost (ATC) curve (also sometimes called average cost), marginal cost (MC) curve, average variable cost (AVC) curve, and marginal

The graph illustrates an average total cost (ATC) curve (also sometimes called average cost), marginal cost (MC) curve, average variable cost (AVC) curve, and marginal revenue (MR) curve (which is also the market price) for a perfectly competitive firm that produces stuffed animals. Please answer the three questions, assuming that the firm is profit maximizing and does not shutdown in the shortrun.

MC ATC $485 $450 AVC Price $300 MR=P $225 - - - - - - - - - - 205 260 336 365 Quantity

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