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Peter's Family Photos is a photographic portrait business in a perfectly competitive market in Fargo. The market price of a portrait is $105. The table
Peter's Family Photos is a photographic portrait business in a perfectly competitive market in Fargo. The market price of a portrait is $105. The table shows Peter's total costs. Under what situation will Peter's shut down for sure? If Peter's Family Photos shuts down temporarily, what will be its economic loss? Question content area bottom left Part 1 Peter's will shut down for sure when the market price is _______. A. greater than the marginal cost B. less than average total cost C. $60 a portrait D. less than $60 a portrait E. less than the marginal cost Part 2 If Peter's Family Photos shuts down temporarily, its economic loss is $enter your response here an hour
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