For a particular competitive firm, the minimum value of average variable cost (avc) is $12 and is reached when 200 units of output are produced. for the same firm, the minimum value of average total cost (atc) is $15 and is reached when 230 units of output are produced. which of the following statements is correct?

The correct answer is that all the statement or scenarios are correct because in any case if price decreases the firm will shut down.

Explanation: Here when Average Variable Cost is $12 at output level 200 units, firm faces loss and firm can shut down. In first case considering short run, if price of the product decreases to $11, the  firm will shut  down. In the second case considering long run, if the price of the product decreases to $14, even then also the firm will shut down.

answer; descriptive statistics;