he table below shows the daily costs of Corny's Corn Cobs. Corny's sells corn by the dozen in a purely competitive market. The rar'ket price is $7.40 for a dozen ears of corn. Corny's Cum Cubs Quantity [Dozens of Ears] AVE (5] ATC (5} MC (Si 8 5.00 12.50 11 4.50 10.00 13 4.80 8.20 15 1.00 8.80 16 4.80 8.80 18 5.10 8.50 19 5.30 8.50 20 5.50 8.50 Istructions: In part a. enteryour answer as a whole number. In part b, round your answer to 2 decimal places. Enter a loss as a egative H nmeer. . In the shor run, if Corny's wants to maximize profits. how much corn should it produce? 18 cozen ears of corn per day . Assuming that Corny's produces in the short run. what will Corny's profit or loss be per day? $ 49.8 per day . In he short run. assuming nothing else changes, Corny's should '12.} produce a lower quantity of corn per day. C? shut down. because the market price is above the AVC. Ci- pr'oduce the same quantity ofcor'n per day. produce a greater quantity of corn per day. .lfthe shortrun price ofcorn falls to $4.30 per dozen. Corny's should produce the same quantity ofcor'n per day. produce a greater quantity of corn per day. C? shut down. because the market price is below the AVC. '12.? produce a lower quantity of corn per day