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gnment 2 (BECN 150 ONB st (S-20) (3) - Compatibility Mode - Word Search ut References Mailings Review View Help 15 Assume the following cost data are for a firm in perfect competition. Apply MC =MR rule to answer the questions given below 12 marks Output (units) AFC ($) AVC ($) AC ($) MC ($) 90 60 150 150 45 48 93 36 30 72 30 4 22.5 67.5 54 5 18 492 67.2 66 6 15 54.99 69.99 83.94 12.84 63.42 76.26 113 88 8 11.25 74.25 85.5 150.18 9 9 99 83.01 93 153.00 a) Will this firm produce in the short period if the product price is $152? What will be the total profits or loss of the firm? b) Will this firm produce in the short period if the product price is $55? What will be the total profits or loss of the firm? C) What will be the profit loss of the firm if the product price is $31? Will it be beneficial to shut down the production? Why? O L W