Draw the MR, MC, AVC, ATC, Demand, supply, MC and MR for the following situations. For each of these situations show the total revenue, total cost area, and shade the profit or loss area, and if the situation is a shut down state why it should shutdown. a. A perfectly competitive firm showing a profit b. A perfectly competitive firm showing a loss but not a shut-down c. A perfectly competitive firm at a break-even point
NEED HELP! I am absolutely bad at graphs I need help with A through F and can you please explain.
Draw the MR, MC,
following situations. For each of these situations show the total revenue, total cost area, and shade the profit or loss area, and if the situation is a shut down state why it should shutdown.
a. A
b. A perfectly competitive firm showing a loss but not a shut-down
c. A perfectly competitive firm at a break-even point
d. A monopolist showing a profit
e. A monopolist showing a loss but not a shut-down
f. A monopolist at a break-even point
g. Difference between a monopolist and a perfectly competitive firm for
a profit situation on the same graph space.
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