Author Question: If TR> TVCbut TR (Read 37 times)

ETearle · **on:** Apr 19, 2019

Question 1

If
TR <
TC, a firm would ________ in the short run and ________ in the long run.

◦ either operate or shut down; contract
◦ operate; contract
◦ shut down; expand
◦ shut down; contract

Question 2

If
TR >
TVC but
TR <
TC, a firm would ________ in the short run and ________ in the long run.

◦ operate; expand
◦ operate; exit the industry
◦ shut down; expand
◦ shut down; exit the industry

lgoldst9 · **Reply #1 on:** Apr 19, 2019

Answer 1

either operate or shut down; contract

Answer 2

operate; exit the industry

ETearle · **Reply #2 on:** Apr 19, 2019

Thanks

lgoldst9 · **Reply #3 on:** Apr 19, 2019

Welcome