Time left 1:58:11 Andrea's Day Spa began to offer a relaxing aromatherapy treatment. The firm asks you how much to charge to maximize profits. The demand curve for the treatments is given by the first two columns in the following table; its total costs are given in the third column. Answer the following question accordingly Price Quantity TC $25.00 0 $100 $24.00 10 $250 $23.00 20 $420 $22.00 30 $600 $21.00 40 $780 $20.00 50 $970 $19.00 60 $1,170 In order to maximize profit, the above firm should produce where: Select one: a. Price = Marginal Cost b. Marginal Revenue = Marginal Cost OC. Price= Average Total Cost d. Economic profit= zero A perfect competitive firm sells its product at $23, its ATC is $25 and its AVC is $20, Then: Select one: O a. It is making an economic profit O b. It should reduce production O c. It should shut down immediately. O d. It should stay in business in the short run 3 A perfect competitive firm sells its product at $23, its ATC is $25 and its AVC is $20, Then: ut of Select one: O a. It is making an economic profit O b. It should reduce production OC. It should shut down immediately. O d. It should stay in business in the short run