Question: Please answer this question The cost curves for a perfectly competitive firm is given below 4,00 Price and 3:00 costs per unit 2.00 (dollars) 1:00

Please answer this question

The cost curves for a perfectly competitive firm is given below 4,00 Price and 3:00 costs per unit 2.00 (dollars) 1:00 O 10 :15 20 25 Quantity of output (units per day) 1 As shown in the diagram above, if the price of the firm's product is $ 4, what will be the profit maximizing output level? (1 point) 2 As shown in the diagram above, at what price will the firm earn zero economic profit in the short run is? (1 point) 3 Using the diagram above, if the short run market price is $0.5/ unit, will the firm still continue to produce? If, yes, please explain why? If no, please explain why not? (1 point) 4 Using the diagram above, if the short run market price is $1.9/ unit, will the firm still continue to produce? If, yes, please explain why? If no, please explain why not? (1 point)

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