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1 0 . Given the following financial information: - - MR = MC = $ 5 . 0 0 at output level ( Q )

10. Given the following financial information:
-- MR = MC = $5.00 at output level (Q)=30;
-- ATC = $5.50;
-- AVC = $4.50
Using the data as presented above of a perfectly competitive firm,
a. the competitive firm should shut down immediately
b. the competitive firm is operating at a loss at $15 but should keep the operation going
c. the competitive firm's TFC is $30 had the firm decided to shut down
d. existing firms would leave the industry until MR is tangent to
ATC at $5.50 in the long run
e. firms would enter the industry until MR is tangent to ATC at $5.50 in the long run
only b, c, d are correct
only e is correct
only b and c are correct
every one of the answers is correct

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