Question: I'm struggling in this question, please help me explain. Thank you so much! 1. Explain why perfectly competitive firms achieve productive efficiency in the long

I'm struggling in this question, please help me explain. Thank you so much!

1. Explain why perfectly competitive firms achieve productive efficiency in the long run. 2. Based on the information, Q = 100; P = $10; AFC = $3; AVC = $4, state whether the perfectly competitive firm should shut down or continue to operate in the short run. 3. State the conditions that characterize long-run competitive equilibrium. 4. What level of output does the profit-maximizing firm produce?

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