Exhibit 7-16 Short-Run Cost Curves for a Competitive Firm

Exhibit 7-16 Short-run cost curves for a competitive firm

In Exhibit 7-16, the firm should shut down in the short run if the market price of its product falls below:

A) $20 per unit.
B) $30 per unit.
C) $50 per unit.
D) $80 per unit.