Homework 4BDraw the MR, MC, AVC, ATC, Demand, supply, MC and MR for thefollowing situations. For each show (as done in class). For each of thesesituations show the total revenue, total cost area, and shade the profit or lossarea, and if the situation is a shut down state why it should shutdown.a. A perfectly competitive firm showing a profitb. A perfectly competitive firm showing a loss but not a shut-downc. A perfectly competitive firm at a break-even pointd. A monopolist showing a profite. A monopolist showing a loss but not a shut-downf. A monopolist at a break-even pointg. Difference between a monopolist and a perfectly competitive firm fora profit situation on the same graph space.

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Business

Economics

A perfectly competitive firm showing a profit

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter12: Firms In Perfectly Competitive Markets

Section: Chapter Questions

Problem 14P

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Question

Homework 4B
Draw the MR, MC, AVC, ATC, Demand, supply, MC and MR for the
following situations. For each show (as done in class). For each of these
situations show the total revenue, total cost area, and shade the profit or loss
area, and if the situation is a shut down state why it should shutdown.
a. A perfectly competitive firm showing a profit
b. A perfectly competitive firm showing a loss but not a shut-down
c. A perfectly competitive firm at a break-even point
d. A monopolist showing a profit
e. A monopolist showing a loss but not a shut-down
f. A monopolist at a break-even point
g. Difference between a monopolist and a perfectly competitive firm for
a profit situation on the same graph space.

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