Answer:
Step-by-step explanation:
Given that a firm has a price of $5, an average total cost of $7, and an average variable cost of $4
Price = 5
Var cost = 4
Contribution = 1 dollar per unit
Since contribution is positive, there is scope for getting profit by increasing production.
In the short run, you should __operate______(operate/shut down) because __Price______exceeds ________ average variable cost price . In the long run, you should __exit______(stay in/exit) the market because ________ average total cost price exceeds____price.______average variable cost price average total cost
Answer: (26996, 42744)
Step-by-step explanation: N/A
The first graph is c. c - 7 < 3.
The second graph is a. c + 7 ≤ 3.
The third graph is b. c - 3 > 1.
D because those options do not intersect and are part of the universal set
