Question 1
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Refer to Table 9.1. If the market price is $42, then in the long run the firm will
◦ operate and expand.
◦ operate but not expand.
◦ shut down, but not go out of business.
◦ go out of business.
Question 2
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Refer to Table 9.1. If the market price is $17, then in the long run the firm will
◦ operate and expand.
◦ operate but not expand.
◦ shut down, but not go out of business.
◦ go out of business.
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