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Explain under each of the situation, a firm working under a perfectly competitive market would keep on producing or shut down. Show using diagram and

Explain under each of the situation, a firm working under a perfectly competitive market would keep on producing or shut down. Show using diagram and also explain the condition thoroughly.

a.P=6; ATC=16; AVC=10 and Q=30

b.P=12; ATC=10; AVC=8 and Q=10

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