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QUESTION
A firm's short run inverse demand function is given by p = 40 - 2q. The short run cost function is C = 100 + 5q. The fixed cost of $100 is rent on a...
A firm's short run inverse demand function is given by p = 40 - 2q. The short run cost function is C = 100 + 5q. The fixed cost of $100 is rent on a building and is unavoidable in the short run. How would you determine if the firm should shut down or not?
