1. The graph in the attachment summarizes the demand and costs for afirm that operates in a perfectly competitive market.

a. What level of output should this rm produce in the short run? b. What price should this rm charge in the short run? c. What is the rm's total cost at this level of output? d. What is the rm's total variable cost at this level of output? e. What is the rm's xed cost at this level of output? f. What is the rm's pro t if it produces this level of output? g. What is the rm's pro t if it shuts down? h. In the long run, should this rm continue to operate or shut down?