- 2 10 Points Shut Down Case In A Short Run Purely Competitive Market Label All Curves Costs Revenue F C Where P 1 (33.65 KiB) Viewed 62 times
2. (10 points) Shut-down case in a short-run purely competitive market (label all curves): Costs, Revenue F C+ where: P*
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2. (10 points) Shut-down case in a short-run purely competitive market (label all curves): Costs, Revenue F C+ where: P*
2. (10 points) Shut-down case in a short-run purely competitive market (label all curves): Costs, Revenue F C+ where: P* = $30 Q* = 30 C* = $170 AVC = $70 AVC* 5 - UNE 2 H -D=MR 0 8 a. TR = $. = Area b. TC = $ = Area C. Loss at Q* = 30: $ d. Loss at Q* ("shut down"): $. e. The firm should shut down because LOSSQ(producing) = Area = Area LOSSQ"(shut down) (answer with >, 5, or <). 1P