In your answer use the tools and models that we have used to explain the behavior of firms in the different market structures.

Your answer should be two pages in length, single space.

After the outbreak of Covid in the US in 2020, many businesses were forced to close temporarily. When they were given permission to re-open, it was d only for a limited amount of time or to offer a deliver or pick up service. Your task is to explain:

the conditions under which it would make sense for a firm to begin production again

the conditions under which it would make sense for a firm to think about shutting down permanently.

PLEASE while answering the questions relate the questions to pure Competition and monopoly market in the paper.

first identify the maximum, profit and minimum loss which is equal to marginal cost and marginal revenue

second identify allocative productive effi