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What is the total profit-loss if firm stays in business

Problem 1: Suppose that a firm comes to you with the following information:

P = 1.5

TC = (1/70). q² - (25/35) q + 100

MC = (1/35) q - (25/35)

A. What is the total profit/loss if the firm stays in business?

B. What is the total profit/loss if the firm shuts down?

C. Would you recommend that the firm stay in business or shutdown? Why?

D. Please graph (i) including the numbers.

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Solution Preview :

Prepared by a verified Expert

Microeconomics: What is the total profit-loss if firm stays in business

Reference No:- TGS01749952

Have a Question? (oR Write a Review)

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Solution Preview :

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Microeconomics: What is the total profit-loss if firm stays in business

Reference No:- TGS01749952

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