The Situation of a Firm in Perfect Competition Each of the letters in the graph below stand for something associated with a rm in perfect competition. Note: A, E, and H are curves; 1, J, and K are regions of the graph; and all the other letters are points on the graph. Choose the letter (of a point, curve, or region) that best answers each of the questions below. If you answer each question correctly, you will use each letter once and only once. I (region of the graph) J (region of the graph) CostPerUnit, or Price K (region of the graph) Output (or Quantity) 4D 4D 4D 4D 1D 4D 1D 4D 4D 4D 4D This is the curve that shows the change in cost when the rm produces one more unit of the good. This is the curve that shows the average cost. This is the curve that shows the average costs of only the variable inputs. It you owned the company, this would be the worst point for you to be on. If you owned the company, this would be the best pointfor you to be on. At this point, you're just breaking even. At this point, you're losing money but decide to stay open because you are able to make enough money to pay for your variable costs and a part of your xed costs. At this point you say to yourself, I am just about to shut down - if things get even a tiny bit worse, then I will shut down. What region is the best one to be in? What region is the worst one to be in? What region is neither the worst to be in, or the best to be in