For questions 4-6: A firm has weekly revenue of $900. The firm's total cost is $1250 per week. The firm shuts down if 300 400 4 2 weekly fixed cost is less than 500 600 The firm's variable cost is $800 and its fixed cost, all of which is sunk, TRUE is $300. The firm will shut down. 2 FALSE The firm's total cost is $1200 and its fixed cost is $500. The firm shuts 20% 2 40% down if the percentage of fixed costs that is avoidable is equal to or 60% greater than 80% 6.

For questions 4-6: A firm has weekly revenue of $900. The firm's total cost is $1250 per week. The firm shuts down if 300 400 4 2 weekly fixed cost is less than 500 600 The firm's variable cost is $800 and its fixed cost, all of which is sunk, TRUE is $300. The firm will shut down. 2 FALSE The firm's total cost is $1200 and its fixed cost is $500. The firm shuts 20% 2 40% down if the percentage of fixed costs that is avoidable is equal to or 60% greater than 80% 6.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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