Additional Problem 1 Answers: Pure Competition Given the following cost functions and revenue lines for a purely competitive firm choose correct answers to the following questions below. a) This purely competitive firm is operating in the short run(short run, long run). b) The firm will break even when the price is $ 12 . Under this condition, quantity will be 45 . Total revenue will be $ 540and total cost will be $ 540. $ 18 16 12 9 6 5 4 16 25 30 38 45 52 55 Q 0 MC ATC AVC
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