Question: Please answer and explain with detail Essay - 20 points Question 1 (20 Points) Perusahaan Umum Perikanan Indonesia (Perum Perindo) ) operates 2,500 hectares of

Please answer and explain with detail Essay - 20 points Question

Please answer and explain with detail

Essay - 20 points Question 1 (20 Points) Perusahaan Umum Perikanan Indonesia (Perum Perindo) ) operates 2,500 hectares of shrimp pond in Bratasena, Lampung. There are many players in this market, including the traditional shrimp farmers and big companies listed in the IDX stock market. The product in this market is relatively standardized. It is known that perum Perindo total cost function is TC = 20 + 40 + 0.003Q2 and the market price for a kilo of shrimp is $16. a. Identify the market structure that perum Perindo operates in b. Find Perindo marginal cost c. Find the equilibrium output level d. Write the firm variable cost and average variable cost function e. At the equilibrium level of output that has been calculated in question c , find the firm average variable cost (AVC) f. At current price level, should the firm continue to produce or shut down it operation? Explain

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