On the following graph, use the orange points (square symbol) to plot points along the portion of the firm's short-run supply curve that correspondsto prices where there is positive output. (Note: You are given more points to plot than you need.)10090Firm's Short-Run Supply8070605040302010101520253035404550QUANTITY (Thousands of shirts)PRICE (Dollars per shirt)LO PriceQuantity(Dollars per shirt)(Shirts)Produce or Shut Down?Profit or Loss?10Shut downLoss2010,000ProduceProfit3235,000ProduceProfit4037,500ProduceProfit5040,000Either shut down or produceBreak even6042,500ProduceProfit

Price Quantity (Dollars per shirt) (Shirts) Produce or Shut Down? Profit or Loss? 10 Shut down Loss 20 10,000 Produce Profit 32 35,000 Produce Profit 40 37,500 Produce Profit 50 40,000 Either shut down or produce Break even 60 42,500 Produce Profit

Price Quantity (Dollars per shirt) (Shirts) Produce or Shut Down? Profit or Loss? 10 Shut down Loss 20 10,000 Produce Profit 32 35,000 Produce Profit 40 37,500 Produce Profit 50 40,000 Either shut down or produce Break even 60 42,500 Produce Profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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