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Perfectly competitive firm 10 P = MR - MC ATC AVC 20 40 60 80 100 120 This perfectly competitive firm: Should shut down This

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Perfectly competitive firm 10 P = MR - MC ATC AVC 20 40 60 80 100 120 This perfectly competitive firm: Should shut down This firm's breakeven point: Is a little above $3 + This firm's shutdown point: Is a little below $2 # This firm should produce: 0 units

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