What's the answer Econ

D Question 12 5.68 pts Here is information pertaining to a firm operating in a perfectly competitive market: Price $10.00 Output Total Revenue (TR) $8,000 Total Cost (TC) Total Fixed Cost (TFC) $2,800 Total Variable Cost (TVC) Average Total Cost (ATC) $12.00 Average Variable Cost (AVC) Minimum Marginal Cost (MC) Based off of the provided information answer the following 3 questions: What is the firm's average variable cost (AVC)? What is the firm's marginal cost (MC)? Should the firm decrease production or shut down in the short run? $8.5: 8.5; shut down $8.5; $8.5; increase production $8: $8; decrease production None of the available answers $8.5: $8.5; shut down Next Previous