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4 The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Smitten, a perfectly competitive firm that produces children's mittens
4 The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Smitten, a perfectly competitive firm that produces children's mittens in a competitive market. 01:48:04 Smitten's Production Costs Quantity (pairs of Marginal Cost mittens) (dollars) 5 $1.50 10 2.00 15 2.50 20 3.50 25 4.00 30 5.00 35 6.00 40 8.50 lalalalal Average Total Cost (dollars) $8.00 5.00 4.50 4.00 4.00 4.50 5.00 5.50 eBook Smitten's marginal cost and average total cost curves are shown below. Smitten's Costs of Production 10 9 9 MC 8 7 6 ATC Costs (dollars) 5 4 3 2 1 0 5 10 15 20 25 30 35 40 45 50 Quantity (pairs of mittens) b. When the market price is $6.00, what is Smitten's average total cost at the profit-maximizing quantity of children's mittens? $
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