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A firm in a perfectly competitive market produces and sells hand sanitizer. The following information is available for the company: Current output 5000 units Current
A firm in a perfectly competitive market produces and sells hand sanitizer. The following information is available for the company: Current output 5000 units Current market price $5 Total cost $27,000 Marginal cost $5 Total variable cost $20,000 What is the best action for this firm? Operating in the short run, as well as in the long run Operating in the short run and exiting in the long run Shut down in the short run and exit in the long run Shut down in the short run and produce in the long run Reduce output in the short run and increase output in the long run
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