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Suppose that a profit maximizing companies short run cost is TC=700+60Q. If the demand curve P=300-15Q, which of these options should it do in the short run?
1)Shut down
2)Continue operating in the short run even though it is losing money
3)Continue operating because it is earning an economic profit
4)Cannot be determined from the above information

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9310900

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