Operate in the short run, The corresponding average total

Operate in the short run

Reference no: EM13163043

Assume a perfectly competitive firm is currently producing 5,000 units of output and is earning $15,000 in total revenue. The marginal cost of the 5,000th unit of output is $3. The corresponding average total cost is $3.50 and total fixed costs equal $1,250. Based on this information, should this firm continue to operate in the short run? Please explain why your answer is yes or no.

Reference no: EM13163043

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