The short-run firm supply curve each of the subsequent

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The SHORT-RUN FIRM SUPPLY CURVE Each of the subsequent situations could exist for a perfectly competitive firm in the short run. In each case, indicate whiter the firm should produce in the short run or shut down in the short run, or whether additional information is needed to evaluate what it should do in the short run.

a. Find total cost exceeds total revenue at all output levels

b. Evaluate total variable cost exceeds total revenue at all output levels

c. Find total revenue exceeds total fixed cost at all output levels

d. Determine marginal revenue exceeds marginal cost at the current output level

e. Price exceeds average total cost at all output levels

f. Average total cost exceeds price at all output levels

g. Average variable cost exceeds price at all output levels

Reference no: EM13370463

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