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Godty Godty
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A year ago
The Short Run Production Decision

The graph shows the cost curves for cinnamon.



Assume that P1=$2.30, P2=$3.50, P3=$4.10, P4=$4.90, Q1=110, Q2=280, and Q3=380.
If price is set to P4 ($4.90), what is the profit-maximizing level of output? The firm earns an economic ________ (profit/loss) equal to ________. At what price does the firm break even? Below what price will the firm shut down in the short run?
Please round your answer to two decimal places.

▸ 280, loss, $1862.00, $2.30, $3.50

▸ 280, profit, $1862.00, $3.50, $2.30

▸ 380, profit, $304.00, $3.50, $2.30

▸ 380, loss, $304.00, $2.30, $3.50
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Macroeconomics

Macroeconomics


Edition: 3rd
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shindh02shindh02
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A year ago
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Godty Author
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A year ago
Thanks
Tabitha.davis
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Yesterday
This helped my grade so much Perfect
Morgan-C
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2 hours ago
You make an excellent tutor!
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