2. For the pizza seller whose marginal, average variable, and average total cost curves are shown below. a. What is the profit maximizing level of
2. For the pizza seller whose marginal, average variable, and average total cost curves are shown below. a. What is the profit maximizing level of output and profit of this firm if the price of pizza is $3.50? b. Below what price will this firm shut-down in the short-run? c. If the price was $4.50, what would this firm's profit be? 6 MC 5 ATC 4 AVC W 2 10 20 30 40 50 60 70
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