Firm A: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule Firm B: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule. Firm C: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule. 4. For cases A through C below, would you operate or shut down in the short-run. 1 ABC Total revenue: 2,000 5,000 5,000 Total cost: 1,500 6,000 7,000 Total fixed cost 500 1,500 1,500 Total variable cost 1,000 4,500 5,500 Firm A:

Firm A: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule Firm B: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule. Firm C: a) calculate the firm's profit or loss. b) explain why would you decide to operate, or shut down in the short-run using the operate or shut down rule. 4. For cases A through C below, would you operate or shut down in the short-run. 1 ABC Total revenue: 2,000 5,000 5,000 Total cost: 1,500 6,000 7,000 Total fixed cost 500 1,500 1,500 Total variable cost 1,000 4,500 5,500 Firm A:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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