Question

11.Explain the following terms:[6]a. Break-even point b. Shut-down point12. Explain the
implications of the following features of perfect competition :[6]
a. Large number of buyers and sellers,
b. Homogeneous products,
SECTION B
(STATISTICS)​

Answer 1

Answer:

11) break-even point is that situation where there is no profit or no loss (there is stability)

b) shut down point= when there is the loss or the curve is falling down

12).both are implacable of perfect competition