The following figure shows the costs for a perfectly competitive producer AVC, ATC, MC ATC AVC 60 70 80 90 100 Output per period a. Refer to the figure above to answer this question. How many units does the firm have to sell to reach economic capacity? (2 Marks) b. Refer to the above figure to answerthis question. What is the value of the shut-down price? (2 marks) C. Refer to the above figure to answer this question. If the price of the product is $35, whatis the profit- maximizing output?(2 marks) d. Referto the above figure to answerthis question. If the price of the productis $35, what will be the total profit?(2 marks) e. Refer to the above figure to answerthis question. If the price of the productis $10, whatis the profit- maximizing (or loss-minimizing) output? (2 marks) f. Referto the above figure to answer this question, If the price of the productis $40, what will be the average profit? (2 marks) 100% of 1 Words: 159 English (Canada) 09:41 WE Links Desktop 01-07-2021pack... Heading 1 Heading 2 Paragraph Styles 1. If the graph below depicted a perfectly competitive industry, what would be the equilibrium price and output? If it were a monopoly industry instead, what would be the profit maximizing price and output? (4 marks) 1200 S 1000 800 Price 600 400 200 MR D = AR O 2 4 6 8 10 12 Quantity per period 10096 English (Canada) > > DesktopAaBbCcDo AaBbC. AaBbCc A 1 Normal No Spaci... Heading 1 Heading 2 Change Font Styles Styles 1. Below are data for a monopolistically competitive firm. Quantity $MC $AC $MR 60 82 72 50 71 64 A W N - 44 64 56 48 59 48 5 50 57.2 40 6 52 56.3 32 54 56 24 8 60 56.5 16 a. Refer to the information above to answer this question. What output will this profit-maximizing firm produce? (2 marks) b. Refer to the information above to answer this question What is true if the firm is producing at the profit-maximizing output? (2 marks) 100% English (Canada) Links Desktop 0 GOG