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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        1,000   2,500   4,000   7,500   7,500  7,500 Total cost              1,400   1,500   5,500   7,000   7,500   8,000 Total fixed cost      300     1,000   500      2,500   2,500   2,500

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        1,000   2,500   4,000   7,500   7,500  7,500 Total cost              1,400   1,500   5,500   7,000   7,500   8,000 Total fixed cost      300     1,000   500      2,500   2,500   2,500

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 10PA
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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        1,000   2,500   4,000   7,500   7,500  7,500

Total cost              1,400   1,500   5,500   7,000   7,500   8,000

Total fixed cost      300     1,000   500      2,500   2,500   2,500

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