57.A past article in the Wall Street Journal described the situation surrounding the closure of a chicken processing plant by Pilgrim's Pride, a chicken processor that was operating under bankruptcy protection at the time the article was written.There was a controversy over whether Pilgrim's Pride was making a serious effort to find a buyer for the plant in Georgia.The company claimed it was while local farmers and workers claim it was not.As evidence of the lack of good faith, locals cited Pilgrim's dismantling of chicken operations in the area, slaughtering hens and selling off eggs.Pilgrim claimed the steps were necessary because "you can't close a plant and have tens of thousands of live chickens there with no place to go."Townspeople viewed the actions as a sign Pilgrim's wasn't serious about selling the plant, as it can take up to two years to restart operations once chicken production is interrupted.In economic terms, for this plant two years is the "long term".Is the statement true [enter a T on the spreadsheet], or false [enter an F on the spreadsheet], or Indeterminate [enter an "I" on the spreadsheet]?Briefly explain your answer.

58.The processing plant was not operating at the time the article was written and the sheds where the chickens are raised were not in use.The article reads: "A group of Douglas chicken farmers gathered outside an empty chicken house in Douglas, Ga.With no plant to process the birds they raise, local chicken farmers have no income to pay off debts.Months ago, the hundreds of cavernous, metal-and-wood chicken houses in the county were worth at least $200,000 each when filled with chickens, farmers say.Now, except for flies and old feathers, the structures sit empty."It can be concluded from the quotes that the chicken facilities in the town have "exited" the industry.Is the statement true [enter a T on the spreadsheet], or false [enter an F on the spreadsheet], or Indeterminate [enter an "I" on the spreadsheet]?Briefly explain your answer.

59.An excerpt from the article reads: "In 2007, the chicken business was booming. But chicken prices fell about 35% by the end of 2008 from the highs of 2007; poultry producers faced rising prices for feed and slackening exports."The higher feed prices would have shifted the chicken producers' marginal cost curve up or to the left.]

TrueFalse[no explanation needed]

60.From the excerpt quoted in question 55, it can be concluded that chicken prices fell in 2008 due to the changing marginal cost curve.

TrueFalse[no explanation needed]