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Answers for 16 and 17 and18
Figure #i-Perfectly Competitive Industry io АТС Econ 112 Take-Home Quiz 3 15 (using the information in Figure #1). The shut-
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15) Answer: 4$

The point where MC equal AVC is know as the shut down point and that price is called as shut down price

16) Answer: 6$

The point where MC equal ATC is the point which is called as break even point and that price is called break even price.

17) Answer: 6$

In the long run when there will be no profit for the firms hence in the long run when the MC equals ATC at a price which is the market price in the long run where they will not earn profits.

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Answers for 16 and 17 and18 Figure #i-Perfectly Competitive Industry io АТС Econ 112 Take-Home Quiz 3 15" (using the information in Figure #1). The shut-down price is: A. $2 B. $4 C. $6 D. $8...
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