In the given diagram, identify the shutdown point.
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In the given diagram, identify the shutdown area.
Which is true regarding the shutdown point and the break-even point for a perfectly competitive firm?
a) they are two names for the same point
b) the shutdown point is the minimum average variable cost and the break-even point is the minimum average total cost
c) the shutdown point is the minimum average total cost and the break-even point is the minimum average variable cost
d) the shutdown point is the minimum average variable cost and the break-even point is the minimum average fixed cost
e) none of the above
In economics, the term "shutdown point" refers to the point where the .
