What is the shut-down point for this firm?

The graph below Show more What are the main differences between a monopolist and a perfectly competitive firm?The graph below gives a typical firm operating under conditions of perfect competition a. Describe this markets characteristics in terms of the number and size of firms the number and size of consumers the type of product and the ease of entry or exit b. At each price illustrated on the graph ($2.60 $1.60 $1.50 $0.80 $0.70 and $0.60) state how much quantity the firm will produce what price the firm will charge and the level of profits the firm will earn. Estimate quantities not given on the graph. c. What is the shut-down point for this firm? d. Present the price quantity and level of profits in the long run. Show less

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