Question 2 (4 points)
Assume a firm produces 15 units and sells each one of them for $30 each. Their ATC is $20 and
their AVC is $15.
Total Revenue
Total Cost
Profit or Loss (include the amount, for example, $40 loss)
In the long-run, would other firms enter the market or leave the market?
Answers: 2
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Question 2 (4 points)
Assume a firm produces 15 units and sells each one of them for $30 each. Thei...
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