Author Question: Assume a profit maximizing firm's short-run cost is TC = 700 + 60Q. If its demand curve is P = 300 - ... (Read 41 times)

khang · **on:** Jul 1, 2018

Assume a profit maximizing firm's short-run cost is TC = 700 + 60Q. If its demand curve is P = 300 - 15Q, what should it do in the short run?

A) shut down
B) continue operating in the short run even though it is losing money
C) continue operating because it is earning an economic profit
D) Cannot be determined from the above information

Question 2

A sale in which property or a service is sold to the highest bidder is called a(n)

A) auction.
B) bidder sale.
C) competitive market.
D) Austrian bundle.