a. At a product price of $52, will this firm produce in the short run? Explain. What will profit or loss be?
b. Answer the relevant questions of 3a assuming produce price is $28.
c. Answer the relevant questions of 3a assuming produce price is $22.
d. Complete the following short-run supply schedule for this firm.
Product price: quantity supplied profit or loss
$72
52
45
28
22
15