Consider the competitive market for copper. Assume that, regardless of how many firms are in the industry, every firm in the industry is identical and faces the marginal cost (MC), average total cost (ATC), and average variable cost (AVC) curves shown on the following graph. COSTS (Dollars per pound) 00 12 12 04 39## 56 481 LATC 40 32 24 16 AVC Mc- 0 0 4 0 12 16 20 24 28 32 30 40 QUANTITY (Thousands of pounds)