Question
a. What level of output should this firm produce in the short run? b. What price should this firm charge in the short run? c.
a. What level of output should this firm produce in the short run? b. What price should this firm charge in the short run? c. What is the firms total cost at this level of output? d. What is the firms total variable cost at this level of output? e. What is the firms fixed cost at this level of output? f. What is the firms profit if it produces this level of output? If the firm is taking a loss, enter this as negative (-) profits. g. What is the firms profit if it shuts down? If the firm is taking a loss, enter this as negative (-) profits. h. In the long run, should this firm continue to operate or shut down? Enter "operate" or "shut down"
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