Use the variable cost information in the following table to calculate average variable cost and average cost (assume fixed cost is $350), and then use this data to answer the questions that follow. One of them might not have an answer.

a. Give an example of a price at which this firm would want to produce and sell output in both the short run and the long run.
b. Give an example of a price at which this firm would want to produce and sell output in neither the short run nor the long run.
c. Give an example of a price at which this firm would want to produce and sell output in the long run but not in the short run.
d. Give an example of a price at which this firm would want to produce and sell output in the short run but not in the long run.

FC 350 S350 350 350 S350 350 350 VC $100 $180 $240 $300 $450 630 $840 AVC 10 30 50 70