What is the lowest price the firm would accept in the short run? Cost ($) 130 120
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What is the lowest price the firm would accept in the short run?
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Cost ($) 130 120 110 100 90 80 70 60 50 40 Figure 3 2 4 6 8 10 12 Output MC ATC AVC 14 16 18 20 22
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In the short run SR the lowest price P the firm would accept is the P that covers its variable costs ...View the full answer
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What is the lowest price the firm would accept in the long run? Cost ($) 130 120 110 100 90 80 70 60 50 40 Figure 3 MC ATC AVC 24 6 8 10 12 14 16 18 20 22 Output
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