Question: I really want to know if I'm doing this correctly, thank you so much!! 1. What is the Optimum level of the output for the

I really want to know if I'm doing this correctly, thank you so much!!

1. What is the Optimum level of the output for the firm? How do you know? Explain your answer. 2. What is the maximum price the firm can charge? 3. At this price and output combination does the firm make economic profit or economic loss? How do you know? Explain your answer. 4. Calculate the economic profit or loss? Show your calculations. 5. What is the breakeven price? How do you know? Explain your answer. 6. What is the shutdown price? How do you know? Explain your answer.| $/q MC 6.70 ATC 6.00 5:00- 4.90 AVC 4.00 d = MR 2.80 2.60 6 8 12 14

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