Illustrate what will profit or loss be

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Reference no: EM1351381

a. At a product price of $52, will this firm produce in the short run? Explain. What will profit or loss be?

b. Answer the relevant questions of 3a assuming produce price is $28.

c. Answer the relevant questions of 3a assuming produce price is $22.

d. Complete the following short-run supply schedule for this firm.

Product price: quantity supplied profit or loss
$72
52
45
28
22
15

Reference no: EM1351381

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