Consider the following short run cost data for a firm operating in a purely competitive market. Answer the questions below. TP AFC AVC ATC MC 1 $ 80.00 $ 60.00 $ 140.00 $ 60.00 2 $ 40.00 $ 50.00 $ 90.00 $ 40.00 3 $ 26.67 $ 45.00 $ 71.67 $ 35.00 4 $ 20.00 $ 41.25 $ 61.25 $ 30.00 5 $ 16.00 $ 40.00 $ 56.00 $ 35.00 6 $ 13.33 $ 40.00 $ 53.33 $ 40.00 7 $ 11.43 $ 40.71 $ 52.14 $ 45.00 8 $ 10.00 $ 42.50 $ 52.50 $ 55.00 9 $ 8.89 $ 45.00 $ 53.89 $ 65.00 10 $ 8.00 $ 48.00 $ 56.00 $ 75.00