Jackson Hardware, a firm in the perfectly competitive custom hardware industry, asks you for your expert economic opinion. They tell you the following: - MC is $200/unit - Quantity produced 550 units - Total Revenue: $110,000 - Total FC are $80,000 - Total VC are $100,000 What is your advice based upon the info above? a) keep operating and increases production b) shut down right now c) keep operating but decreases production d) Keep operating and do not change production at all
Jackson Hardware, a firm in the perfectly competitive custom hardware industry, asks you for your expert economic opinion. They tell you the following: - MC is $200/unit - Quantity produced 550 units - Total Revenue: $110,000 - Total FC are $80,000 - Total VC are $100,000 What is your advice based upon the info above? a) keep operating and increases production b) shut down right now c) keep operating but decreases production d) Keep operating and do not change production at all
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter8: Perefect Competition
Section: Chapter Questions
Problem 19SQ
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Jackson Hardware, a firm in the
- MC is $200/unit
- Quantity produced 550 units
- Total Revenue: $110,000
- Total FC are $80,000
- Total VC are $100,000
What is your advice based upon the info above?
a) keep operating and increases production
b) shut down right now
c) keep operating but decreases production
d) Keep operating and do not change production at all
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