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0 1 2 3 4 5 6 7 8 9 10 $30 20 30 40 50 60 70 80 90 100 $230 125.00 93.33 80.00 74.00 71.67 71.43 72.50 74.44 77.00 $130 75.00 60.00 Shutdown and produce nothing Produce an output of 6 and earn a positive economic profit Produce an output of 6 and earn a negative economic profit Produce an output of 8 and earn a positive economic profit 55.00 54.00 55.00 57.14 60.00 63.33 67.00 Refer to table 8.1. If the competitive market price for kale is $61, what will the firm do in the short-run?

0 1 2 3 4 5 6 7 8 9 10 $30 20 30 40 50 60 70 80 90 100 $230 125.00 93.33 80.00 74.00 71.67 71.43 72.50 74.44 77.00 $130 75.00 60.00 Shutdown and produce nothing Produce an output of 6 and earn a positive economic profit Produce an output of 6 and earn a negative economic profit Produce an output of 8 and earn a positive economic profit 55.00 54.00 55.00 57.14 60.00 63.33 67.00 Refer to table 8.1. If the competitive market price for kale is $61, what will the firm do in the short-run?

Microeconomic Theory
Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.6P
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012345 4 6 7 8 9 10 $30 2888 20 30 40 50 60 70 80 90 100 $230 125.00 93.33 80.00 74.00 71.67 71.43 72.50 74.44 77.00 $130 75.00 60.00 55.00 54.00 55.00 57.14 60.00 63.33 67.00 Refer to table 8.1. If the competitive market price for kale is $61, what will the firm do in the short-run? Shutdown and produce nothing Produce an output of 6 and earn a positive economic profit Produce an output of 6 and earn a negative economic profit Produce an output of 8 and earn a positive economic profit
Transcribed Image Text:012345 4 6 7 8 9 10 $30 2888 20 30 40 50 60 70 80 90 100 $230 125.00 93.33 80.00 74.00 71.67 71.43 72.50 74.44 77.00 $130 75.00 60.00 55.00 54.00 55.00 57.14 60.00 63.33 67.00 Refer to table 8.1. If the competitive market price for kale is $61, what will the firm do in the short-run? Shutdown and produce nothing Produce an output of 6 and earn a positive economic profit Produce an output of 6 and earn a negative economic profit Produce an output of 8 and earn a positive economic profit
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