Explanation:

The shut down point is a concept in economics that refers to the point at which a firm decides to temporarily stop production in the short run due to incurring losses. At this point, the firm is not able to cover its variable costs, and continuing production would result in even greater losses.

a) Price is equal to AVC:
- AVC stands for average variable cost, which is the variable cost per unit of output.
- At the shut down point, the firm is not able to cover its variable costs, so the price it receives per unit of output is equal to the average variable cost.
- This is because if the price is less than the average variable cost, the firm would be incurring losses on each unit produced, and it would be better off shutting down.

b) Total revenue is equal to TVC:
- TVC stands for total variable cost, which is the sum of all the variable costs incurred by the firm in producing a given level of output.
- At the shut down point, the firm is not able to cover its total variable costs with the revenue it receives from selling its output.
- As a result, the total revenue is equal to the total variable cost, as there is no additional revenue beyond covering the variable costs.

c) Total loss of the firm is equal to TFC:
- TFC stands for total fixed cost, which is the sum of all the fixed costs incurred by the firm regardless of the level of output.
- At the shut down point, the firm is not able to cover its total variable costs, let alone the total fixed costs.
- As a result, the total loss of the firm is equal to the total fixed cost, as there is no additional revenue beyond covering the fixed costs.

Conclusion:
At the shut down point:
- The price is equal to the average variable cost because the firm cannot cover its variable costs.
- The total revenue is equal to the total variable cost because the firm cannot cover its variable costs with the revenue it receives.
- The total loss of the firm is equal to the total fixed cost because the firm cannot cover its fixed costs, let alone the variable costs.