24t 22+ 20+ 18+ 16+ 1. 14- lot. 6. 2 A) Drawn below is an individual firm's average cost curves, marginal cost and marginal revenue curves. Interpret the graph and answer the questions in the space provided PRODUCTION COSTS MC D) ta Shut-down point break-even point Dsd 8 10 12 What type of market is the firm operating in? Purely competitive market B) The output produced is 11,000 The market price is $17 ATC C) The The market price is $14 AVC + + 14 OUTPUT (000's) -D Show the firm's break-even point on the graph. Also state the market price and output produced at the break-even point. Show the firm's shut-down point on the graph. Also state the market price and output produced at the shut-down point. output produced is 9,000 At the original market price what is the firm's operating loss or profit. Express this figure in dollars, (show your calculations). 160 000