-In the figure above, assuming that the firm does not shut down, it will charge a price of

Name: -In the figure above, assuming that the firm does not shut down, it will charge a price of
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In a perfectly competitive market, a firm will charge a price equal to the market price, which is typically where marginal cost equals marginal revenue. Without the figure, $3 is assumed to be the equilibrium price.

-In the Figure Above, Assuming That the Firm Does Not