Question: I could used some help on this question! QUANTITY Scenario 8 PRICE MC Observe the Short-Run Loss information il- lustrated in the graph to the

I could used some help on this question!

QUANTITY Scenario 8 PRICE MC Observe the Short-Run Loss information il- lustrated in the graph to the right. With ATC MR respect to Price (P*), Average Variable Cost (AVC), Average Total Cost (ATC), Marginal P* Revenue (MR), and Marginal Cost (MC), what AVC assumption would you make if the firm was selling its product at P*? Notice that MR = P*. What would happen if this were to continue in the long run? Is there a Shut Down point? Q* QUANTITY

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