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annyan annyan
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7 months ago

Equilibrium price is $8 in a perfectly competitive market. For a perfectly competitive firm, MR = MC at 150 units of output. At 150 units, ATC is $11, and AVC is $10. The best policy for this firm is to __________ in the short run. Also, total fixed cost equals __________ and total variable cost equals __________ for this firm.



continue to produce; $125; $1,375



shut down; $150; $1,500



shut down; $1,375; $1,250



continue to produce; $150; $1,500



There is not enough information to answer all parts of the question.

Textbook 
Economics

Economics


Edition: 12th
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DeeclaireDeeclaire
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7 months ago
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