12. Draw the supply and demand curves for a perfectly competitive market and label the equilibrium price as ( mathrm{P}^{*} ) and the equilibrium quantity as ( mathrm{Q}^{*} ) Please type your answer here: 13. The Shutdown point for a firm is where: (Highlight the correct answer in Green) A. ( mathrm{P}= mathrm{AVC} ) B. ( m

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12. Draw the supply and demand curves for a perfectly competitive market and label the equilibrium price as   (   mathrm{P}^{*}   ) and the equilibrium quantity as   (   mathrm{Q}^{*}   ) Please type your answer here: 13. The Shutdown point for a firm is where: (Highlight the correct answer in Green) A.   (   mathrm{P}=  mathrm{AVC}   ) B.   (   mathrm{MR}=  mathrm{MC}   ) C.   (   mathrm{MB}=  mathrm{P}   ) D.   (   mathrm{P}

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