Illustrate what will be profit-maximizing or loss-minimizing

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Q. In much of nation, homeowners choose to heat their houses with either natural gas or home heating oil. Which of following could cause demand for natural gas to change?

Q. At a product cost of $56, will this industry produce in short run? Why or why not? If it is preferable to produce, illustrate what will be profit-maximizing or loss-minimizing output? Elucidate. Illustrate what economic profit or loss will industry realize per unit of output?

Reference no: EM1367906

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