Output Total Cost 0 4000 20 4500 40 4850 60 5150 80 5400 100 5700 120 6100
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Question:
Output | Total Cost |
0 | 4000 |
20 | 4500 |
40 | 4850 |
60 | 5150 |
80 | 5400 |
100 | 5700 |
120 | 6100 |
140 | 6600 |
160 | 7150 |
180 | 7750 |
200 | 8500 |
Question 1
What is the profit-margin quantity if p=25
Question 2
What do you predict will happen in the long-run if prices remain at this level?
Question 3
How long does the price need to fall before the company decides to shut-down in the short run (i.e produce q = 0)?
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