If the price at which Jeannette can sell wheat is $16/bu., will Jeannette earn a profit in the short run? In the short run, should she produce or shut down?
Jeannette has a wheat farm, and the wheat market is
Calculate the total cost, the
What is the break-even price and quantity, shut-down price and quantity?
If the price at which Jeannette can sell wheat is $16/bu., will Jeannette earn a profit in the short run? In the short run, should she produce or shut down?
|
Q |
VC |
TC |
MC |
AVC |
ATC |
|
0 |
0 |
|
|
|
|
|
10 |
160 |
|
|
|
|
|
20 |
220 |
|
|
|
|
|
30 |
300 |
|
|
|
|
|
40 |
420 |
|
|
|
|
|
50 |
580 |
|
|
|
|
|
60 |
780 |
|
|
|
|
|
70 |
1,020 |
|
|
|
|
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