Question: I'm not sure if I'm doing this correctly the graph is really confusing, please help! Thank you so much I know it's a lot but

I'm not sure if I'm doing this correctly the graph is

I'm not sure if I'm doing this correctly the graph is really confusing, please help! Thank you so much I know it's a lot but I really appreciate it

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 q 6 8 12 14

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