If a firms total revenue is $20 million, its fixed costs are $12 million, and its variable

Question:

If a firm’s total revenue is $20 million, its fixed costs are $12 million, and its variable costs are $22 million, what does it do (a) in the short run and (b) in the long run?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

Question Posted: