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Consider the following figure. The shutdown point is at a price of Consider the following figure.
The shutdown point is at a price of Select one: a.$16 b.$11 c. $9 d$13
Solution
The shutdown point is that level of output, where price is equal to the minimum AVC.
In perfect competition, price equals marginal revenue. The MR curve intersecst the minimum
AVC at a price equal to $11.
So, correct option (b).

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Consider the following figure. The shutdown point is at a price of C.pdf

  • 1. Consider the following figure. The shutdown point is at a price of Consider the following figure. The shutdown point is at a price of Select one: a.$16 b.$11 c. $9 d$13 Solution The shutdown point is that level of output, where price is equal to the minimum AVC. In perfect competition, price equals marginal revenue. The MR curve intersecst the minimum AVC at a price equal to $11. So, correct option (b).