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Operate or shut down in the short run


For cases A through F in the following table, would you

(1) Operate or shut down in the short run and

(2) Expand your plant or exit the industry in the long run?

                         A          B       C        D        E         F

Total revenue    1,500  2,000  2,000  5,000  5,000   5,000
Total cost          1,500  1,500  2,500  6,000  7,000   4,000
Total fixed cost    500     500    200   1,500  1,500   1,500

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Microeconomics: Operate or shut down in the short run
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