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The following figure is for Taiwo's mask manufacturing limited, a perfectly competitive firm operating in the short run. Assume the firm produces 100 units of
The following figure is for Taiwo's mask manufacturing limited, a perfectly competitive firm operating in the short run. Assume the firm produces 100 units of output and that average revenue is $20. Use this figure to answer the following questions. (dolars per unit) 12 10 50 100 mmty (units at admit} a) Does the firm breakeven, makes a loss, or profit in the short run? At what price does this occur? b) At what price will the firm shut down in the shortrun? c) Which of the curves represent the firm's supply curve in the shortrun
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