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2.5 gistration Price gistration MC chnical Support ATO MR AVC 20 30 40 50 0 Quantity Perfect Competition MC - Marginal Cost MR - Marginal

2.5 gistration Price gistration MC chnical Support ATO MR AVC 20 30 40 50 0 Quantity Perfect Competition MC - Marginal Cost MR - Marginal Revenue ATC - Average Total Cost AVC - Average Variable Cost Refer to the figure above. Firm operating in perfectly competitive market will shut-down production in the short run if the market price O falls below $3 is higher than $6 is $4 O is higher than $3

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