This is a partial collection of Jane Austen's juvenilia--the works she wrote as a young teen. It's NOT the basis for the 2016 film of the same name, which is based on Whit Stillman's adaptation of the unpublished Austen work "Lady Susan" (rather confusingly published as "Love & Friendship.")
This "Love and Friendship" is a novella in which Austen, age 14, satirizes Romanticism and fictional depictions of love in her time. It has some hilarious lines, but I found the over-the-top anti-heroine unsatisfying. Much better is the unfinished "The Three Sisters," which could have been alternate draft of Pride and Prejudice. The editors also include 5 fictional sketches they generously call short stories, though only one deserves the name, and a rather weak introduction by Fay Weldon.
All in all it's an interesting and very fast read that will appeal to lovers of Austen and literary history, though not a good introduction for others. I found it a great reminder of how funny Austen can be, and how relentlessly she mocked Romanticism. The latter is connected to some conservative political ideas about women's rights and other topics, and this book inspired me to reread Persuasion to see how her ideas evolved over time.