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Explain clearly Consider that Ah Cy is a retail firm that produces and sells fashion accessories including crocheted bracelets. Ah Cy is one of many

Explain clearly

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Consider that Ah Cy is a retail firm that produces and sells fashion accessories including crocheted bracelets. Ah Cy is one of many firms participating in a highly competitive national market for crocheted bracelets. The market price for crocheted bracelet is $26.50 and the market is in equilibrium. Firms in the market and potential entrants have the same cost structure, and the current market quantity is 78,750 bracelets. At Ah Cy, the cost of labor and materials used in production is described by the equations: MC = 4 + 0.05q and AVC = 4 + 0.025q. In addition to these costs, the firm faces a cost of $4,000 for its machinery and equipment. (NOT FOR SALE . DO NOT COPY) (Question 1 of 8) What is quantity of crocheted bracelets traded at Ay Cy? (report your numerical answer at 4 decimal places)

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