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stars_and_moon stars_and_moon
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7 years ago
A price taking firm produces 50 units of output.  The market price of its output equals $10 per unit.  At 50 units of output average cost equals $12 and average variable cost equals $9.  How much profit (or loss) does the firm make if it stays open?  How much profit (or loss) does the firm make if it shuts down?  Should the firm stay open or shut down?
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kingbykingby
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7 years ago
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#2
7 years ago
Incredible!
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#3
7 years ago
Yup, vote with confidence!
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