Considering the above example of Junaid business, assume that Led TVs production is a perfectly competitive industry. What is Junaid's break-even price? What is his shut-down price? Suppose the price of a TV is $20. What should Junaid do in the short run? Suppose the price of a TV is $10. What is the profit-maximizing quantity of TVs that Junaid should produce? What will his total profit be? Will he produce or shut down in the short run? Will he stay in the industry or exit in the long run?