unuou A tomato farmer operates in a perfectly competitive industry. Revenues are $2,000 a montn, toi costs are $2,500, and total fixed costs are $1,000. The farmer should Select one: exit in the short run and produce in the long run. shut down in the short run and stay in the industry in the long run if losses persist. increase output in the short run and maintain the capacity in the long run. continue to produce in the short run and exit in the long run. shut down in the short run and exit in the long run.

unuou A tomato farmer operates in a perfectly competitive industry. Revenues are $2,000 a montn, toi costs are $2,500, and total fixed costs are $1,000. The farmer should Select one: exit in the short run and produce in the long run. shut down in the short run and stay in the industry in the long run if losses persist. increase output in the short run and maintain the capacity in the long run. continue to produce in the short run and exit in the long run. shut down in the short run and exit in the long run.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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