Question: documents from iCloud. Use the following graphs which represent two different firms operating under conditions of pure competition in the short run to answer question

documents from iCloud. Use the following graphs which represent two different firms operating under conditions of pure competition in the short run to answer question #9. Firm A Firm B Costs MC Costs MC ATC ATC MR AVC AVC .MR Quantity Quantity 9. Which firm shows losses that are so large that it should stop production in the short run? a. Firm A b. Firm B c. Both Firms A and B should shut down. d. Neither Firm A nor B should shut down since both are earning economic profits. 10. Use the graph below to answer the questions about a purely competitive firm. Costs MC ATC MR 4 AVC 10 20 Quantity a. What is the average total cost of production? b. What is the total revenue for this firm? c. What are the total economic profits or losses? MacBook Air

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