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Homework 3E - Graphs Draw the MR, MC, AVC, ATC, Demand, MC and MR for the following situations. For each of these situations show the total revenue, total cost area, and shade the profit or loss area a. A perfectly competitive firm showing a profit b. A perfectly competitive firm showing a loss but not a shut-down c. A perfectly competitive firm at a break-even point - long run d. A monopolist showing a profit e. A monopolist showing a loss but not a shut- down f. A monopolist at a break-even point - long-run g. Differences between a monopolist and a perfectly competitive firm for a profit situation on the same graph space