Answer to Question #62073 in Microeconomics for Benjamin Logan
Answer the following questions:
a.Ji’s economic profit or loss is __ (use a negative value if a loss). Answer in dollars, rounded to two decimal places (ie: to the nearest cent).
b.Should Ji shut down? Type Y for Yes or N for No.
c.State whether the following statement is true or false: "Ji needs to minimise her loss of $0.10 per bottle by producing the quantity where price equals her marginal cost." Type t for true, or f for false .
b.Should Ji shut down? N. because P>minAVC
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