Chapter 8: Business Costs and Production 2036 2.3. What costs do firme consider in the short run and the long run? Perry's Pie Shop will produce only the possible number of pies listed in the chart. Given the fixed and variable cost, determine which positive output will result in the lowest average total cost (ATC). Quantity Total variable Total fixed (Q = Pies) cost (TVC) cost (TFC) Total cost (TC) Average variable Average fixed Average total cost (AVC) cost (AFC) cost (ATC) 0 60 0 10 20 30 40 30 50 60 60 60 65 77 87 60 50 60 70 100 120 160 80 60 60 60 60 60 60 220 90 100 300 Click to the memoryour brand to type you're not just take a gues. N/A 0 1 2 3 4 5 6 7 00 9 Done