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George's hair-cutting business is a profit-maximizing, perfectly competitive firm. George provides haircuts at 27 each. His total cost each day is 280, of which 30

George's hair-cutting business is a profit-maximizing, perfectly competitive firm. George provides haircuts at 27 each. His total cost each day is 280, of which 30 is a fixed cost. He cuts hair for 10 customers a day. What can you say about George's short-run decision regarding shutdown and his long-run decision regarding exit?

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