Use the following demand and cost information below and determine if Firm A, B, C operate in a perfectly competitive market?

Calculate MC, Profit/Loss, and TFC.

Firm A Firm B Firm C Price where output is equal to zero (R) 2000 1500 60 Profit maximising price (R) 1000 ? 60 Profit maximising output level (units) 30 50 2500 MC at profit maximising output level (R) ? 275 60 ATC at profit maximising output level (R) 1300 ? 36 AVC at profit maximising output level (R) 900 300 ? Minimum ATC (R) 1200 320 30 Minimum AVC (R) 800 280 3 Price at allocation efficient output level (R) 160 580 ? Allocationefficient level of output (units) 150 200 2500 Lerner index 0.8 ? 0 Total Fixed Cost (R) 2 2000 75000 Total Variable Cost at profit maximising output level (R) 27000 15000 ? Mark-up ? 4