Author Question: Refer to the data provided in Table 9.4 below to answer the question(s) that follow. Refer to Table ... (Read 69 times)

aabwk4 · **on:** Apr 19, 2019

Question 1

If
________, a firm would shut down in the short run and exit the industry in the long run.

◦ TR >
TVC but
TR <
TC
◦ TR =
TC
◦ TR >
TFC
◦ TR <
TVC

Question 2

Refer to the data provided in Table 9.4 below to answer the question(s) that follow.

Refer to Table 9.4. If the market price is $34 and the firm produces 4 units of output, then its profit would be

◦ -$100.
◦ -$88.
◦ $0.
◦ $36.

ApricotDream · **Reply #1 on:** Apr 19, 2019

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