Question: I want correct answer wrong answer then I will give you down upvote........ Refer to the figure below. a. At what price do competitive firms

I want correct answer wrong answer then I will give you down upvote........

Refer to the figure below. a. At what price do competitive firms earn normal rate of return? b. In which price range do competitive firms choose to keep operating at a loss? c. Below what price do competitive firms minimize its losses by shutting down? d. If the price of output is $5, which level of output maximizes profit? e. What is the total revenue which maximizes profit? f. If the price of output is $3, what is your short-run and long-run decisions? Explain. MC ATC 5.70 AVC 5.00 4.00 2.70 2.50 0 100 250 300 340 Units of output

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