Individual Problems $5-7$

A firm sells $1,000$ units per week. Suppose the average variable cost is $$40,$ and the average cost is $$80.$

In the short run, the break$-$even price is $$ In the long run, the break$-$even price is $$

Suppose the firm charges a price of $$30$ per unit.

Use the following table to indicate whether the firm will shut down or continue to produce in the short run and the long run.

$\backslash$table$[[$Time$,$Continue to Produce$],[$Short Run,Shut Down$],[$Long Run,$]]$