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please provide correct answers for both Figure 12-9 Price and cost P P P2 Q2 Q3 Q4 5 6 Quantity Figure 12-9 shows cost and
please provide correct answers for both
Figure 12-9 Price and cost P P P2 Q2 Q3 Q4 5 6 Quantity Figure 12-9 shows cost and demand curves facing a profit-maximizing, perfectly competitive firm. Refer to Figure 12-9. At price P2, the firm would break even. O lose an amount more than fixed cost. O lose an amount equal to its fixed cost. O lose an amount less than fixed cost.Figure 12-4 Price and cost $40.50 36.00 30.00 MR 22.00 ..... 20.00 130 180 240 Quantity Figure 12-4 shows the cost and demand curves for a profit-maximizing firm in a perfectly competitive market. Refer to Figure 12-4. If the market price is $30, should the firm represented in the diagram continue to stay open? O Yes, because it is covering part of its fixed cost. O Yes, because it is making a profit. O No, it should shut down because it is making a loss. O No, it should shut down because it cannot cover its variable costStep by Step Solution
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