Poinsettia growing is a perfectly competitive industry and all poinsettia growers have the same costs.
The market price of poinsettias is $21 a pot and each grower maximizes profit by producing 2800 pots a week.
Average total cost of producing poinsettias is $16 a pot and average variable cost is ?$11 a pot. Minimum average variable cost is $3 a pot
What is the price at the grower's shutdown point?