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Author Question: You are hired as an economic consultant to The Pampered Pet Shop. The Pampered Pet Shop operates in ... (Read 157 times)

khang

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on: Apr 19, 2019

Question 1

A firm suffering economic losses decides whether or not to produce in the short run on the basis of whether


◦ revenues cover variable costs.
◦ revenues from operating are sufficient to cover fixed costs.
◦ revenues from operating are sufficient to cover fixed plus variable costs.
◦ Firms suffering economic losses will always shut down.

Question 2

You are hired as an economic consultant to The Pampered Pet Shop. The Pampered Pet Shop operates in a perfectly competitive industry. This firm is currently producing at a point where market price equals its marginal cost. The Shop's total revenue exceeds its total variable cost, but is less than its total cost. You should advise the firm to


◦ cease production immediately because it is incurring a loss.
◦ lower its price so that it can sell more units of output.
◦ produce in the short run to minimize its loss, but exit the industry in the long run.
◦ raise its price until it breaks even.
Principles of Economics ¦ Case, Fair, Oster ¦ 12th Edition
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Marked as best answer by khang on Apr 19, 2019

samiel-sayed

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Reply #1 on: Apr 19, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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khang

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Reply 2 on: Apr 19, 2019
Gracias!

AISCAMPING

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Reply 3 on: Yesterday
Wow, this really help

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