Australia is home to some olthe world's best pies. Yara decided to start a new bakeryr selling pies in Brisbane Assume the market for pies to be a perfectly competitive one. Answer the following questions .3. ln order to produce pies faster and cheaper, Yara found a new piemaker With the latest cuttingedge technology. She is able to greatly reduce her costs as compared to her competitors. In the short run, Yara Will be able to earn ai'an profit Type E for Economic, X for No or N for Normal b. Yara decided to apply her economic knowledge to find out how well her pie shop is doing Yara calculated that she faces an average total cost of 53.85 per pie produced. The average xed cost is 52 55 per pie. On an average day, Yara is able to sell 321 pies Each pie can be sold for $4 88. Help calculate Yara's economic profit for an average day $ Answer in dollars to the nearest two decimal places. c. Many other pie shops started usmg the new piemaker which also lowered their production costs. At a lower cost. shops are selling pies at a lower price. Assume prices now are $3 per pie Yara decides to start selling more pies in order to increase her revenue. which she hopes will increase herprofits. Does this make economic sense? TyperorYes or N for No