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Microeconomics

Course: Microeconomics > Unit 6

Lesson 6: Firm entry, exit, and the shut-down rule
Economics
Microeconomics
Production decisions and economic profit
Firm entry, exit, and the shut-down rule
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Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market

Google Classroom

Problem

The cost and revenue curves for a perfectly competitive industry are shown in this graph:
What is the quantity that this firm will choose in the short run, and what is its economic profit or loss?
Choose 1 answer:
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