Q8 Consider the following diagram to calculate profit or loss of a firm in perfect competition. $11 $9 $6 $5 Quantity = Average cost (ATC} = Total cost (TC) Profit per unit 75 D 100 MC AVC ATC MR Quantity Price Total revenue (TR) = Total profit= Shut down price-

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Q8 Consider the following diagram to calculate profit or loss of a firm in perfect competition.
s
=
$11
$9
$6
$5
Quantity =
Average cost (ATC) =
Total cost (TC)
Profit per unit =
75
4
100
MC
AVC
ATC
MR
Quantity
Price =
Total revenue (TR) =
Total profit=
Shut down price -
Transcribed Image Text:Q8 Consider the following diagram to calculate profit or loss of a firm in perfect competition. s = $11 $9 $6 $5 Quantity = Average cost (ATC) = Total cost (TC) Profit per unit = 75 4 100 MC AVC ATC MR Quantity Price = Total revenue (TR) = Total profit= Shut down price -
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